SPRINGFIELD, IL – November 9, 2009 – (RealEstateRama) — The first-time buyer tax credit built third-quarter momentum as home sales marked the first positive year-over-year increase in more than three years while price declines moderated but continued to be influenced by entry-level and distressed sales, according to the Illinois Association of REALTORS® (IAR). Statewide home sales (which include single-family and condominiums) totaled 32,460, up 0.3 percent from 32,358 home sales in the third quarter of 2008. The third quarter median home sale price was $165,000, down 12.9 percent from $189,500 in the third quarter of 2008. The median is a typical market price where half the homes sold for more, half sold for less.
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