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Chicago Year-to-Date Home Sales Increase

September 23, 2010

The Chicago real estate market is showing signs of improvement. They might be small signs, but they are signs nonetheless.

According to the Illinois Association of Realtors latest report, home sales from January through August 2010 were up 17.2 percent in the city, 15.8 percent in the Chicagoland area and 9.2 percent throughout Illinois compared to sales during the same time period in 2009.

Those are some pretty impressive numbers.

“The market year-to-date in the city of Chicago reflects an increase in the number of units sold by more than 17 percent over the same period in 2009,” said REALTOR® Genie Birch, president of the Chicago Association of REALTORS®. “Consumers continue to find Chicago real estate worthy of their investment, and are making sound decisions regarding how they spend their money and plan for their future.”

The IAR report also showed some gains in homes sales in August from July:

*Statewide sales increased 2.6 percent.

*The Chicago area saw a 1.3 percent increase.

*In the city of Chicago, however, sales were down 6.4 percent from July to August.

“The housing market is waging an epic battle to maintain some hard-earned stability gained in the first half of the year,” said REALTOR® Mike Onorato, GRI, president of the Illinois Association of REALTORS®. “A healthy housing market depends on a healthy Illinois economy, especially in the area of job creation and stability.”

While the unemployment rate for August increased 0.1 percent nationally and decreased -0.2 percent in Illinois, our state’s rate of 10.1 percent still sits above the national rate of 9.6 percent.

But at least most of our numbers are moving in the right direction.

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Tracey

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