Rockford Area Realtors say it’s a sellers market

ROCKFORD (WREX) – It’s a sellers market, according to Rockford Area Realtors.

Rockford Area Realtors gave the annual state of the union address at Forest Hills Country Club Thursday night. They said there are pros and cons to Rockford’s housing market.

One negative aspect is the lack of new construction. Realtors said if home prices continue to improve, it could jump start more construction.

The CEO of Rockford Realtor Association said the efforts to improve Rockford’s economy are working and it’s translating over to the housing market as well.

“It’s almost like inventory is flying off the shelves at this point in time. It’s certainly a seller’s market. Our price recovery’s been phenomenal. And we’re almost within a few points of where we were in the peak in 2006,” Steve Bois said.

He said the momentum is going in the right direction, and more commercial development is coming to the area, which in turn helps grow the housing market.

 

house
Lindsey Fafoglia

Lindsey Fafoglia

Morning News Anchor

More News

13 Weather Authority

Rockford
25°
Freeport
21°
DeKalb
23°
Rochelle
23°
Sterling
23°
Janesville
23°
Monroe
20°
Rockford
25°
Freeport
21°
DeKalb
23°
Rochelle
23°
Sterling
23°
Janesville
23°
Monroe
20°
Dry and chilly weather takes over after Saturday morning’s snow

Dry and chilly weather takes over after Saturday morning’s snow

Temperatures will struggle to warm, so continue to watch out for slick roads.

Connect With WREX
Top Stories

Rain returns for the end of the week

Rain has been lacking so far this month with only 4 days measuring rainfall. That should change late this week

Winnebago County 2019 budget nearly $3 million in the red

Not only is the 2019 budget in the red, but the county says it looks like 2018 will end with

Winnebago School District negotiations still ongoing, strike on the table

Will they strike? That's the big question tonight about Winnebago teachers. 

Jury: Man guilty of killing Machesney Park teen

Michael Mernack, 37, killed Rebecaa Finkenhofer, 16, at her Minns home on Dec. 28, 2016.

1 person killed in serious crash in front of Eisenhower M.S.

The Rockford Police Department is on the scene of a serious three car crash in front of Eisenhower Middle School.

Scroll to top
Skip to content