In the News: Turbulent economy, high property taxes impacting real estate market

Illinois News Network

Illinois Realtors recently reported that home sales in July were down 6.8 percent from the same month last year.
State Rep. Jeanne Ives (R-Wheaton)

The statewide median price in July was $199,000 — 4.7 percent higher than the median price of $190,000 in July 2015.

State Rep. Jeanne Ives, R-Wheaton, said with more than 30,000 jobs lost in July, she believes the drop in home sales this year can be linked to the state’s turbulent economy.

“I think there’s a correlation there between home sales plummeting and people leaving the workforce,” she said...

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