Rockford Area Home Sales Hits Four Year High

By WTVO WQRF Newsroom

Published 06/06 2014 11:46AM

Updated 06/06 2014 11:47AM

ROCKFORD - The housing market makes strides.

The Rockford Area Realtors report 399 homes were sold in May.  That number represents two things: the highest montlhy sales figure in 10 months and the highest May total since 2010.

"U.S.housing activity has been slowly gaining in the first half of 2014" says Steve Bois, CEO of RAR.  "Housing industry experts say growing consumer demand will help fuel an improving market well into 2015."

The three month averages sales price also went up.  It's now $96,935.  Still, that's well below $100,964, which was the average as recently as December.

"If you look at the jobs-to-population ratio, we're in a weaker state than the late 1990s through 2007."  Bois says if the Rockford housing market is to make any major strides, there has to be more job growth.

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