Illinois home sales plunged last month, despite improving inventory levels. The Illinois Realtors organization reports family home and condominium sales statewide were down 19.4 percent in January when compared with figures from 2018.
The Peoria metropolitan area recorded 231 home sales last month, a nearly eleven percent decline from the same month in 2018. The January Peoria area median sales price was $114 thousand, down nearly 9 percent from a year ago.
Overall, 26 Illinois counties recorded January sales gains. The Bloomington metropolitan area - which includes McLean and Dewitt counties - saw year-over-year sales jump nearly 6 percent. The Chicago Metro Area recorded a nearly 23 percent drop.
The Illinois Realtors group says nationwide consumer confidence was lower in December and January. The trade organization says the partial government shutdown and concerns about the overall economy contributed to sales declines.
