Home sales trending upwards
Updated: March 22, 2013
CHAMPAIGN COUNTY -- The housing market appears to have put the recession in its rear view mirror.
Home sales are trending upwards in the county.
Realtors say sales have increased every month since February 2012. They say, for the first time since 2008, it's turning back into a seller's market.
And the explanation is as simple as supply and demand. They say fewer homes are for sale and that's driving up the prices.
"I was looking at the home sales just for yesterday. 14 houses went pending yesterday which means they're under contract. Of those 14 houses, 10 were on the market less than a week. That's significant," said Todd Salen, residential and commercial broker with Ramshaw Real Estate.
Salen says buyers have good news as well. He says, because the market is moving out of the recession, buyers should be confident their homes will gain equity.
Realtors say sales have increased every month since February 2012. They say, for the first time since 2008, it's turning back into a seller's market.
And the explanation is as simple as supply and demand. They say fewer homes are for sale and that's driving up the prices.
"I was looking at the home sales just for yesterday. 14 houses went pending yesterday which means they're under contract. Of those 14 houses, 10 were on the market less than a week. That's significant," said Todd Salen, residential and commercial broker with Ramshaw Real Estate.
Salen says buyers have good news as well. He says, because the market is moving out of the recession, buyers should be confident their homes will gain equity.
