Housing numbers for May hold good and bad news

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ROCKFORD, Ill. (WTVO) May housing numbers in the Stateline are out–and there’s some good and bad news.

Due to the pandemic, only 337 homes sold last month. That is down 33% from the same time last year. However, there is a silver-lining.

Rockford Area Realtors says there is a huge group of people trying to buy a home right now. Since inventory is low, the houses are selling fast.

“In fact we saw greater urgency for those people looking to purchase a home and in those circumstances we’re seeing homes sell at a faster pace, sometimes with multiple offers and sometimes even offering more money than what the home seller was asking for,” explained Conor Brown, the CEO for Rockford Area Realtors.

An important piece of advise for buyers–get pre-approved. Since homes can be sold in just hours, you’ll want to make sure you have all your paperwork ready to go.

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