The market is improving. I think it is being driven by the first time homebuyers credit of $8000 that will end on November 30, 2009 and the fact that the prices are great and the inventory is thinning out a bit. According to the Illinois Association of Realtors Weekly Connection on August 12, 2009:
"Illinois home sales surge 61.8 percent in 2nd Quarter from 1st Quarter. Pent-up demand plus affordable prices, low interest rates and the tax credit incentive provided a substantial boost to the Illinois housing market in the second quarter, according to the IAR 2Q09 report. Statewide total home sales increased by 61.8 percent in the second quarter of 2009 to 27,531 homes sold compared to 17,017 homes sold in the first quarter of 2009. Sales were down 16.4 percent from second quarter 2008 sales of 32,949. The Illinois median price in the second quarter of 2009 of $160,000 was up 9.6 percent from $146,000 in the first quarter; it was down 16.2 percent from $190,978 in the second quarter of 2008."
I believe, over all, we are facing a strong Fall Market!
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