Champaign County area home sales reach 14-year high for July

News

URBANA, Ill. (WCIA) — It’s a great time to sell your property if you’re a homeowner.

Champaign County area home sales reached a 14-year high for the month.

This comes from the Champaign County Association of Realtors.

There were 388 closed home sales in July for Champaign County.

August might slow down a bit because there isn’t enough inventory.

However, experts say the demand drove sales even throughout the country.

“We’ve never had anything like this,” said Liz McDonald, the president of the association. “We have no true pandemic to compare it to. Certainly not what we were expecting. Sales across the country were elevated and on record-setting pace.”

Experts say there are several reasons for the general demand: the economy has been strong and interest rates were also below 3% for the majority of the pandemic.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.