Peoria-area home sales are on the decline in the first quarter of the year. But Peoria Public Radio’s Sean Flavin reports area realtors are expecting numbers to improve.
The Peoria Area Association of Realtors says first quarter home sales are down two percent this year compared to last. Low inventory numbers are considered the culprit. The number of homes for sale dipped twenty-five percent between the first quarter of 20-12 and this year. John Purple is the president of the Peoria Area Association of Realtors. He says he expects those numbers to rise soon.
“This time of year people will start getting their homes prepared and getting them on the market, I believe the inventories will start to increase.”
The Peoria Area Association of Realtors is putting on two seminars this week to prepare potential homebuyers. The seminars will include information on: mortgages, down payment assistance programs and home inspections.