Illinois home prices were higher in the third quarter of 2014 and that trend is expected to continue into the final quarter of this year, according to the latest quarterly forecast from the Regional Economics Applications Laboratory of the University of Illinois.
Statewide home sales in the third quarter lagged compared to last year, but increased in five of the state’s 10 Metropolitan Statistical Areas (MSAs) including: Decatur, Metro-East, Davenport-Moline-Rock Island, Peoria-Pekin and the biggest gainer of the quarter, Kankakee at 15.2 percent.
What’s ahead? Overall trends are positive with the majority of MSAs seeing growth in sales and prices in the final quarter of 2014. Find the full 4Q 2014 forecast at www.illinoisrealtor.org/marketstats. Share a new IAR infographic on 3Q 2014 housing data.