Illinois real estate sales were ranked 30th out of all 50 US states in home price appreciation in 2007. There were no Illinois cities in the top 20 appreciating cities or in the 20 cities that lost the most value. Some other cities cities like Bloomington, Normal, and Nampa were on the list of 291 cities doing well. The Office of Federal Housing Enterprise Oversight (OFHEO) produced an 88 page reports that says Illinois real estate sales were number 30 in the list of states that had "...positive four-quarter appreciation" in 2007...". The report has lots of positive information, but it hasn't been widely publicized. The list of states and their ranking by appreciation over 2007 is on page 25 of the .pdf report. It seems that Illinois is one area of the country that should continue to see growth in the real estate market.
80% of the United States had POSITIVE appreciation in 2007 according to the chart page 25 and 26 of the report. And, of the 291 cities monitored in the report, 65% of US cities had appreciation. Too bad these statistics aren't being widely reported. This report uses a few different set of statistics to show different aspects of the housing market.
United States real estate still provides one of the best available forms of investment for people looking to grow wealth over the long run. Real Estate professionals should be using blogging, newslettering, pressreleasing, emailing, and any other useful method to get this positive news out!
The report can be found at: http://www.ofheo.gov/media/pdf/4q07hpi.pdf
Other IL cities
Naperville was 152nd of 291 US cities
Joliet was 152nd of 291 US cities
Chicago was 152nd of 291 US cities
Champaign was 86th of 291 US cities
Urbana was 86th of 291 US cities
Decatur was 66th of 291 US cities
Kanakee was 84th of 291 US cities
Bradley was 84th of 291 US cities
Peoria was 89th of 291 US cities
Rockford was 80th of 291 US cities
Springfield was 119th of 291 US cities
Danville had positive appreciation but was unranked
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / firstname.lastname@example.org
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker