October housing sales numbers in, better than a year ago - WREX.com – Rockford’s News Leader

October housing sales numbers in, better than a year ago

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ROCKFORD (WREX) -

After nine straight months of increases, the local housing market in Rockford is slowing down.

That's according to Rockford Area Realtors, which released its stats for October, on Monday.

The average price for a home sold in Rockford rose to almost $131,000.

That's a 1-point-1 percent increase from $129,000.

However homes sold faster this October than last year and the number of homes on the market today is significantly less than October 2016.

You may be able to buy your next home on Facebook.

The social media company is launching a massive push for real estate listings.  Right now focusing on the rental market, but eventually, into home sales.  Local realtors are already using social media to bring in buyers.

"Getting information out? We're in the information age. Information is gonna be out there. In a way it can help the industry," said Steve Bois, president of Rockford Area Realtors.

Meanwhile, a new national housing study shows millennials are becoming a larger force in the housing market, but at a rate that is nearly 13-percent lower than normal.

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