The local housing market stayed active in July, marking the 13th consecutive month Chicago-area home sales rose year over year.
In July, 8,551 single-family homes and condominiums sold in the nine-county Chicago area, up 29.1 percent from 6,624 sales in July 2011, the Illinois Association of Realtors said Wednesday.
“Despite the unclear signals for the future pace of economic recovery, the Illinois and Chicago-area housing sales and price forecasts suggest that the housing market will maintain the positive momentum into the fall,” Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois, said in the Realtors statement.
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