November Home Sales Tick Down

CHICAGO—The number of statewide home sales declined last month when compared to November 2014, according to new data from the Illinois Association of REALTORS®. But the realtors also found positive signs, including a decline in the time it took to sell a home and a significant boost in the year-over-year median price, the 39th consecutive month with such an increase.

“That shows there is a strong appetite out there,” Dan Wagner, president of the Chicago Association of REALTORS® and senior vice president for government relations for The Inland Real Estate Group, tells GlobeSt.com. “Last November, houses were on the market for an average of 74 days, and now it is down to just 67.”