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B-N New Construction Coming Off Life Support?

For Sale sign in front yard
Ralph Weisheit

Realtors in Bloomington-Normal are seeing signs to get a little excited about more newly-constructed home options for buyers.

Karen Stailey-Lander, president of the Bloomington-Normal Association of Realtors, says there was a 12.8 percent decrease in the number closings of newly-built homes during June compared to last year. But she says pending sales during the month were up slightly.

"Those, actually year-to-date, exceed what we had last year. Just by one percent, but we were just hoping to catch up with last year and hopefully exceed it this year," Stailey-Lander said.

BNAR reports 22 new construction houses closed during June, bringing the total for the first half of the year to 82. The first six months of last year saw 94 newly-constructed home sales closed.

Overall, there were 351 real estate transactions last month, a 5.4 percent increase in year-to-date sales. Stailey-Lander said inventory is solid. She characterized the market as neutral, meaning neither buyers nor sellers have any great advantages.

Willis is a Bloomington, IL, native. During his senior year at Bloomington High School, he finished third in the "Radio Speaking" division of the state speech contest, the only year he competed.
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