Illinois 2Q11 Housing Market Reflects Last Year's Final Tax Credit Push

The second quarter statewide median home sale price was $142,000, down 11. Realtors The median is a typical market price where half the homes sold for more, half sold for less. The positive annual median price changes are a sign for recovery of some housing markets. Since January 2010, Illinois employment growth resumed in all but the Information and Financial activities, which continue to lose jobs leading to negative recovery rates. The nine-county region's second quarter 2011 median price was $170,000, down 13. The second quarter 2011 interest rate for 30-year, fixed-rate mortgages averaged 4. For a $142,000 home purchase, which is the second quarter statewide median price, having $28,400 in the bank for the down payment is a tough hurdle for most people looking in that price bracket. In the city of Chicago, total home sales (single-family and condominiums) in the second quarter were down 23. The city of Chicago median price in the second quarter was $190,000 down 17. The Illinois Association of Realtors(R) is a voluntary trade association whose 44,000 members are engaged in all facets of the Real Estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS(R) works to protect the rights of private property owners in the state by recommending and promoting legislation that safeguards and advances the interest of real property ownership. Detailed second quarter 2011 Illinois home sales data can be accessed at the IAR website, www. Politics News »Debt Buries Man of Hope The president's call for common sense is no match for his 2008 message of hope.