ROCKFORD - The local housing market is improving.
According to the Rockford Area Realtors, the rolling three month average selling price for a home is $112,943. It was $106,403 at this time last year.
However, the number of homes sold in September is down. A total of 356 homes were sold last month. But, 364 were sold in Sept. 2012.
Still, the number of homes sold for the year is up. "With sales and average prices robust in September after a strong summer selling season, this shows that the economic recovery slowly, but surely, continues to gain steam" says Steve Bois, CEO of the Rockford Area Realtors.
Bois predicts more people will try to sell their homes. "We still think there are plenty of people sitting on the sideline waiting to see what happens. Now may be the time we see more smart sellers entering the market."