Illinois Resales Down 17.6%

Sales of existing single-family homes in Illinois fell to 11,281 in November, down 17.6% from 13,691 a year earlier, according to the Illinois Association of Realtors.The statewide median sales price dipped 0.5% to $199,000 from $200,600 a year earlier, the association said. "The Illinois housing market did not experience a dramatic run-up in prices like other markets in the country over the past several years, and we continue to experience fairly stable price appreciation," said Robert Zoretich, president of the association. "Sales figures in November reflect a return to more normal market conditions compared to the boom years, as well as a seasonal slowdown as we begin the holiday months." In the Chicago metropolitan statistical area, resales totaled 7,580 in November, down 21.9% from 9,702 a year earlier, and the median sales price was $245,000, up 0.5%. The association can be found on the Web at http://www.illinoisrealtor.org.