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North Chicago suburbs enjoy climbing sales

February 7, 2011 - Home sales north of Chicago have been on the rise, suggesting more consumers may be considering moving to Chicago's suburbs.

RE/MAX Northern Illinois reported that while the region as a whole saw only a modest gain in year-over-year home sales in 2010 - climbing 0.4 percent - certain parts of the Chicago area enjoyed much stronger improvement. The group isolated Lake and Kane counties and 12 northern Cook County suburbs, showing sales in those areas climbed a combined 7.6 percent from 2009. When considering only Lake County and those dozen Cook County communities - including Evanston, Skokie and Winnetka, the report found an 8.2 percent increase in home sales.

The bottom line, said experts, is that many people may be relocating to Chicago for employment and then seeking housing in its surrounding towns.

"An improving regional economy with declining unemployment, which we are likely to see in the year ahead, coupled with the recent strength of the stock market, should give homebuyers more confidence and lead the housing market in a more positive direction," said Jim Merrion, regional director of RE/MAX Northern Illinois.

Similar growth may be reported on a national basis given improving jobs figures. The Department of Labor reported that the national unemployment fell to 9 percent in January from 9.4 percent, though job growth remained slow.
 

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