Increase in Home Sales in Rockford

A few days ago, a study was conducted on the behavior of home sales in Rockford, and it was determined that so far this year, the real estate market in this city has been one of the most active in the country.

Despite the fact that property prices are experiencing unexpected increases, real estate agents have reported a significant rise in home sales. They also assert that this phenomenon has occurred because many long-time homeowners are deciding to put their houses up for sale.

Since the beginning of this year, the supply of homes in the city of Rockford has seen a remarkable increase of nearly 24%, and although this is very significant at the national level, this increase in the number of homes available for sale is below previously recorded historical figures.

According to historical data, since reports on the real estate market in Rockford began, the most significant increase in the number of properties for sale in the city was recorded in 2008.

Although currently the supply of houses has high numbers and home prices have reached unprecedented values, the truth is that the real estate market in the city is now going through a balanced and dynamic moment. This movement could be attributed to the fact that current mortgage rates are registering lower numbers than in previous years and could be more adaptable to consumers than in past times.

Thanks to the supply of properties for sale, the demand in the city is being met, and potential buyers now have a variety of housing options. And not only buyers are benefiting from this current moment, as real estate agents are also having larger lists of houses in their inventories, and sellers are perceiving the money from their properties more quickly and in increased amounts.

The analyzed data shows that home prices have been rising at both the local and national levels for the past four years, and this is due to the fact that previously, the city of Rockford had very little housing supply and a large volume of buyers in the real estate market.

Available foreclosures:

Rockford: 15 homes available

By Elías DaSilva | 06 de Noviembre de 2024.