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Public Affairs coverage from our award-winning staff |
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Illinois Home Sales Up in September
Produced by Susie An on Friday, October 23, 2009
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Illinois home sales for September are showing their first increase in more than three years.
10,350 homes were sold last month in Illinois. According to the Illinois Association of Realtors that's up more than 3 percent from last September's numbers. Mike Onorato is president of the association. He says a drop in home prices, low interest rates and a government tax credit program have helped boost the numbers.
ONORATO: The last three months that has been very significant in driving the number of sales is the national first time home buyers tax credit, which has really brought a small flurry of activity of buyers back in the market to take advantage of that tax credit.
The tax program ends in November and federal lawmakers are considering a bill to extend it. Onorato says the upswing in sales makes him hopeful, but he says the housing market is still fragile.
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