Peoria Area Association of Realtors | WGLT

Peoria Area Association of Realtors

Ralph Weisheit / WGLT

Home sales continue to lag in the Peoria area, despite a strong end to the busy summer sales season.

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Realtors in the Peoria area are touting improved consumer confidence and attractive mortgage rates for a slight gain in first quarter home sales.

There were 17 more single family homes and condos sold in the greater Peoria area during the first three months of 2017 compared to last year. That's a 1.7 percent increase.

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The Peoria area has recorded an earlier than usual seasonal slowdown in home sales.

Realtors Association President Jana Heffron said third quarter sales dropped more than ten percent, but overall market fundamentals remain sound.

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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."