May Home Sales Hit Yearly High in Rockford Area

By: Kristin Burke
By: Kristin Burke

414 homes and condo were sold in our area in May, marking the highest monthly total of the year according to Rockford Area Realtors.

May sales were six percent higher than April's numbers, and up nearly 33 percent from May 2009's sales.

23 news real estate expert Steve Bois says the jump provides more evidence that one factor alone can't drive the market.

" There are two critical things I think we need to think about. the smart buyers are watching the interest rates," says Bois. "As long as the rates stay down there is great value and affordability. In our region we have one of the highest levels of affordability meaning the cost of housing is a much less percentage of income than other areas. that leads me to believe we are going to be more stable going forward."

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