Third quarter Peoria Area Home sales were at their highest level in eight years. Home sales were up more than nine percent for the quarter when compared to the same time last year. Becky Peterson is the president of the Peoria Area Realtors Association. She says it was a pleasant surprise:
“All the realtors knew that they were extremely busy out there, so you know going into the last quarter this is definitely good news.”
Peterson says the increase in home sales is attributable to interest rates below four percent and a lower unemployment rate than last year.
The median home sale price also held steady year to year at $125,000. There are also slightly more homes on the market.