By Adam Studzinski
BLOOMINGTON – Overall housing sales continue to rise this year compared to 2015.
According to the latest numbers from the Bloomington-Normal Association of Realtors, 7.8 percent more homes have been sold this year compared to the same period last year. Association President Karen Stailey-Lander said an improved economy is part of the reason for the increase.
“Buyers have more confidence at this point in time and so we’re seeing those numbers continuously, you know, rise,” she said.
New construction sales have dipped about 24 percent. Stailey-Lander said new building code details could be slowing those sales down.
“All those tend to, obviously, increase the price on new construction,” Stailey-Lander said.
Stailey-Lander explained it’s likely house hunters are looking at the price of existing homes and preferring to spend less money. Existing home sales are up 10.5 percent this year.
Adam Studzinski can be reached at adam.studzinski@cumulus.com.
