PAAR Sees Good Signs Ahead As Home Sales Begin Rebound

Jun 29, 2020

The central Illinois real estate market hasn't been immune from the economic impacts of the COVID-19 economic shutdown, but local Realtors say there are some good signs on the horizon.

Sales last month in the Peoria area were down more than 25 percent when compared to May 2019. But Peoria Area Association of Realtors President Kendra Sipes said things are beginning to look up again.

 "Our numbers aren't too bad. We're doing pretty well. But everything's kind of shifted back about six week or so," she said.

Sipes says the spring sales surge is beginning later , as buyers with pent-up demand begin looking for homes again.

 "Traditionally, you know April, May, are our big months for those closed sales. We're seeing that kinda push back again, you know, kinda later. June and into July," said Sipes, who described the overall Peoria area housing market as strong.

 

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