Real Estate Numbers Positive For 2012
By: Cody Murphy
Updated: January 22, 2013
PEORIA--Home Sales For 2012 Up From Previous Year
4,210 homes were sold in the greater Peoria area during 2011 but in 2012 there was nearly a 17 percent increase.
In 2012, 4,912 homes were sold at an average price of around 146,000$. Peoria Area Association of Realtors (PAAR) says since 2009 home sales has been on a decline until 2012.
They believe the confidence of previous and new home-owners is starting to rise, so more homes will continue to sale.
John Purple, President of PAAR, says interest rates for homes are near record lows, which could mean the spring market will be good.
Purple says "inventory numbers shrunk to 22.3 percent, down to 2,012 homes for sale, and the month's supply of inventory down to 4.9 months from 7.3 months in 2011, we feel this is a balanced market, - a win-win for buyers and sellers."
They believe the confidence of previous and new home-owners is starting to rise, so more homes will continue to sale.
John Purple, President of PAAR, says interest rates for homes are near record lows, which could mean the spring market will be good.
Purple says "inventory numbers shrunk to 22.3 percent, down to 2,012 homes for sale, and the month's supply of inventory down to 4.9 months from 7.3 months in 2011, we feel this is a balanced market, - a win-win for buyers and sellers."
