Peoria Area Home Sales Robust | WGLT

Peoria Area Home Sales Robust

Oct 15, 2015

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Worries about layoffs at Caterpillar have yet to take energy out of the Peoria home sales market. Becky Peterson is the President of the Peoria Area Association of Realtors.

"It has been the highest level in the past eight years. It is not since 2007 that we have had as many homes sold. Sales gained 9.2% from sales a year ago."

Peterson does say people are watching the situation and she does expect some impact  in the first or second quarter of next year. She says the looming Mitsubishi plant closure is NOT registering at all in the Peoria market, even though some workers at the plant in Normal live there.

Peterson says interest rates remain very low and credit rules have eased, which are helping home sales.

Both the median and average prices of homes sold in the Peoria area were essentially unchanged in the third quarter.