WMBD/WYZZ - PEORIA -- Illinois realtors are hoping the economic stimulus plan can resurrect home sales.
Last month they were down almost 24 percent from January 2008. Just under 4,600 homes were sold in January. That’s about 1,400 less than in 2008.
Home prices fell in January by about 20 percent. The average home statewide sold for just under $150,000 .
In 2008 the average price was about $187,000.
Peoria Area Association of Realtors sold 41 fewer homes in the Tri-County area this year compared to 2008. In that same time period, Bloomington-Normal Realtors sold 40 fewer homes.
While its a buyers market, sellers now have to be more competitive than ever. That means people may have to price their homes on the lower end. First time home buyers can take advantage of the 8,000 dollar tax credit available through the stimulus plan.