Illinois Home Sales Up 22% - KWQC-TV6 News and Weather For The Quad Cities -

Illinois Home Sales Up 22%

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It appears the housing market in Illinois is making significant gains. A new report on home sales released Thursday shows Illinois recorded its best month of May since 2007.

The Illinois Association of Realtors reports that home sales were up 22 percent, compared to a year ago. The median home price was up for a third month in a row, by 3.6 percent. The median price is now $145,000, which means half sold for less and half sold for more.

Median home prices in the Quad City area cited in the report were up as well. In Jo Daviess County, the median price was up 13.1 percent. In Rock Island County, the median price was up 7.8 percent.

The biggest news may be coming from Chicagoland, where median sale prices moved into positive territory for the first time in more than four years. In that area, officials say rising rental prices and low mortgage rates are pushing more people to buy a home, instead of renting one.