We Value Bloomington-Normal

According to the IAR July sales report, home sales were down 5.76 percent in July 2008 to 11,021 sales compared to June 2008 sales of 11,694; year-over-year sales were down 25.2 percent from July 2007 totals of 14,738.

The Illinois median price in July was $199,900, down 4.8 percent from $210,000 in July 2007.

“While most housing-related indicators reveal continued problems, there is some increasing evidence the supply and demand may be moving more into balance, especially in many metropolitan markets in Illinois,” said Dr. Geoff Hewings, director of U of I's Regional Economics Applications Laboratory (from the August 2008 forecast pdf).