Forecast: Decline In Median In Next 3 Months But Sales Rate To Pick Up

Posted on July 27th, 2010 in All Articles.

See the Latest University of Illinois report on the market at

http://lyris.illinoisrealtor.org/t/309368/12157324/2609/0/

Here are the highlights• Forecasts for the next three months (July, August and September) indicates that sales should increase in Illinois in the 12-19% range; in Chicago, the sales are expected to grow in the 21-32% range over the same period on an annual basis
• Month to month sales will be positive in July but turning negative in August and September in the 1-7% range in Illinois and 0-5% range in Chicago
•    Median prices are expected to decline over the three months in both Chicago and Illinois • Median prices by September 2010 (2009 values in parentheses) are expected to be
$158,295 (158,200) in Illinois and $188,880 ($199,000) in Chicago