CHICAGO—Spring may have arrived, but the long months of harsh winter weather is still exerting downward pressure on statewide home sales, according to officials from the Illinois Association of REALTORS®. The organization just published statistics which show a decline in March home sales, at least compared to March 2013, and a decline in available inventory. At the same time, however, median prices increased as a healthy number of buyers competed to purchase the shrinking number of for-sale homes.

“We usually have a pretty good number of listings that come on in February,” Phil Chiles, president of the state association and broker-associate with the Real Estate Group in downstate Springfield, tells “This year we didn’t get that influx.”

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