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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: gladman who wrote (61123)	8/29/2006 5:02:30 PM
From: Dan3	Read Replies (1) \| Respond to of 306849

From the heartland, where there isn't a bubble.... Home sales decline in DuPage, Will counties As reported by Bob Okon, Staff Writer for The Naperville Sun: Sales of single-family homes dropped 15.7 percent in DuPage County and 18.6 percent in Will County in the second quarter from the previous year, according to a survey released Monday by the Illinois Association of Realtors. The drop in home sales compared with the second quarter of 2005 reflected regional and national trends, although sales were up in Grundy and Kendall counties. The rise in sales in Grundy and Kendall reflects situations unique to those smaller markets, said Chris Huecksteadt, director of Chicago market for Metrostudy, which monitors real estate activity. "A lot of our major builders are reporting contracts off as much as 25 percent year-to-date compared to year-to-date last year," Huecksteadt said, "so it's no doubt the real estate market for used and new homes has slowed down significantly throughout the Chicago market." The Association of Realtors primarily covers sales of existing homes. Sales in Grundy County were up 15.8 percent, and Kendall County sales increased 5.3 percent. But the entire Chicago region showed a 12.3 percent drop in sales. Rising mortgage rates and record sales a year ago were important factors in the statewide drop-off in sales, said Stan Sieron, president of the Association of Realtors. But Sieron said a good job market and appreciation in home prices should lead to "a very moderate slowdown." Technorati Tags: DuPage County, Home Sales, Naperville, Property, Real Estate, Will County Posted by Dan Jungclas on August 19, 2006 at 09:14 PM in DuPage County, Naperville, Real Estate, Will County \| Permalink \| Comments (0) \| TrackBack (0) aroundnaperville.com