Statewide home sales in September were up 13.5 percent year-over-year according to the Illinois Association of REALTORS® report issued today.  According to Dr. Geoffrey J.D. Hewings, director of the University of Illinois Regional Economics Applications Laboratory (REAL): “The housing market is showing some positive signs in terms of sales volume, yet prices remain lower and more sales are expected in the category of homes priced less than $100,000.”

A third of homes sold statewide in September (33.3%) were priced below $100,000; 67.2% below $200,000. The REAL forecast indicates that total home sales will be positive for October and November on a month-to-month and year-over-year basis: “A rather unexpected outcome for the last quarter of the year when the market typically cools down.”

October 2011 Forecast Chart: Illinois Home Sales

October 2011 Forecast Chart: Illinois Price Stratification