Illinois
Demand for Illinois homes strong despite high interest rates
ILLINOIS (WIFR) – April was a sizzling month, not for climate however for residence gross sales throughout the state.
Practically 15,000 single-family houses and condominiums have been bought statewide regardless of rising mortgage curiosity rages.
Primarily based on the Freddie Mac knowledge, the month-to-month common price for a 30-year, fixed-rate mortgage was 4.98% in April, up from the earlier month of 4.17%. Final yr, the common was 3.06% round this time.
“Those that are desperate to get into the spring market will need to transfer shortly and lock in mortgage charges earlier than they transfer greater,” says Ezekiel “Zeke” Morris, president of Illinois REALTORS® and designated managing dealer of EXIT Technique Realty/EMA Administration in Chicago.
Discover Illinois housing stats and knowledge at http://www.illinoisrealtors.org/marketstats/.
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