Rockford housing numbers from 2018 show improvement

ROCKFORD, Ill. (WIFR) - The Rockford area experiences the best year for housing in more than a decade.

"We’ve seen probably one of the strongest markets in the past 12 years here in the Rockford area,” said Rockford Area Realtors CEO Conor Brown.

Brown is excited to see the region reaching new milestones.

"We are actually outpacing the state of Illinois and that is really positive so things have been really hot here in Rockford,” Brown said.

Brown says the biggest increases were in housing prices.

"We’ve had a price increase year over year of six percent. It has been Significant and has added about $7,800 in equity into the average Rockford area house.” Brown said.

We also saw an increase in housing sales.

"Which is so critical to see those homes moving at a three percent increase,” Brown said.

Realtors credit some of the major construction projects finished in 2018 as a part of our success.
"Just to name a few, we saw that come through with burner Foods at 65,000 square feet, Barnstorm at 100,000 square feet, Danfoss another 100,000 square feet, Quantile, PLC Linear and a whole host of projects we haven't discussed," said Rockford Area Economic Development Council President and CEO Nathan Bryant.
Bryant plans to keep this trend going.

"Those projects are huge in our market and you don't see them that often. But as we move into 2019 we expect projects that are big and a lot of them, its good times for us," Bryant said.

For the fifth year in a row, distressed property sales are down because of the efforts from the city to continue fighting the blight.