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Monthly Home Sales in Illinois Jumps Twenty Percent
HOW LOANRATEUPDATE WORKS
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FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Monthly Home Sales in Illinois Jumps Twenty Percent
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Monthly Home Sales in Illinois Jumps Twenty Percent

July 9, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums jumped over 20 percent in Illinois during May while the Chicago area saw its first year-over-year increase in home prices in over four years according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 11,984 existing homes and condos were sold in the Land of Lincoln in May, the most sales for a May in five years. Home sales were 20.3 percent higher than the 9,961 homes sold in April and were 22.1 percent higher than the 9,815 homes sold in May 2011.

The median sales price for an existing home in Illinois increased 7.4 percent to $145,000 from $135,000 in April and was up 3.6 percent from May of last year, the first year-over-year price increase in 23 months.

Bob Floss, president of the Illinois Association of REALTORS®, stated, “First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now. With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”

Forty-seven of the 100 counties that reported data posted higher home sales than a year ago, twelve more than the previous month, while 51 of the counties posted an increase in their annual median sales price, up from 42 last month.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 8,276 in May, up 21.5 percent from 6,814 homes sold in April and up 25.3 percent from 6,605 homes sold in May of 2011.

The median sales price for a home in the Chicago MSA was $170,000 in May, up 6.3 percent from a median price of $160,000 in April and up 0.1 percent compared to May of last year when the median sales price was $169,900. It was the first time in 49 months that year-over-year home prices in the Chicago MSA have increased.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 9, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums jumped over 20 percent in Illinois during May while the Chicago area saw its first year-over-year increase in home prices in over four years according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 11,984 existing homes and condos were sold in the Land of Lincoln in May, the most sales for a May in five years. Home sales were 20.3 percent higher than the 9,961 homes sold in April and were 22.1 percent higher than the 9,815 homes sold in May 2011.

The median sales price for an existing home in Illinois increased 7.4 percent to $145,000 from $135,000 in April and was up 3.6 percent from May of last year, the first year-over-year price increase in 23 months.

Bob Floss, president of the Illinois Association of REALTORS®, stated, “First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now. With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”

Forty-seven of the 100 counties that reported data posted higher home sales than a year ago, twelve more than the previous month, while 51 of the counties posted an increase in their annual median sales price, up from 42 last month.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 8,276 in May, up 21.5 percent from 6,814 homes sold in April and up 25.3 percent from 6,605 homes sold in May of 2011.

The median sales price for a home in the Chicago MSA was $170,000 in May, up 6.3 percent from a median price of $160,000 in April and up 0.1 percent compared to May of last year when the median sales price was $169,900. It was the first time in 49 months that year-over-year home prices in the Chicago MSA have increased.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 9, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums jumped over 20 percent in Illinois during May while the Chicago area saw its first year-over-year increase in home prices in over four years according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 11,984 existing homes and condos were sold in the Land of Lincoln in May, the most sales for a May in five years. Home sales were 20.3 percent higher than the 9,961 homes sold in April and were 22.1 percent higher than the 9,815 homes sold in May 2011.

The median sales price for an existing home in Illinois increased 7.4 percent to $145,000 from $135,000 in April and was up 3.6 percent from May of last year, the first year-over-year price increase in 23 months.

Bob Floss, president of the Illinois Association of REALTORS®, stated, “First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now. With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”

Forty-seven of the 100 counties that reported data posted higher home sales than a year ago, twelve more than the previous month, while 51 of the counties posted an increase in their annual median sales price, up from 42 last month.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 8,276 in May, up 21.5 percent from 6,814 homes sold in April and up 25.3 percent from 6,605 homes sold in May of 2011.

The median sales price for a home in the Chicago MSA was $170,000 in May, up 6.3 percent from a median price of $160,000 in April and up 0.1 percent compared to May of last year when the median sales price was $169,900. It was the first time in 49 months that year-over-year home prices in the Chicago MSA have increased.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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