Rockford new housing inventory hits record low - WREX.com – Rockford’s News Leader

Rockford housing inventory hits record low

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ROCKFORD (WREX) -

It's a seller's market right now in the Rockford area, with the lowest inventory of homes for sale ever recorded in the area.

Last year the Rockford Area Association of Realtors says the area had just over 1,200 properties. The year before that it was nearly 1,500. In 2014 and 2013 it was over 2,000.

While that's good news for people trying to sell their home and competition from buyers can drive up prices, realtors say it can be bad news for growth in the area.

"We have concerns about our industry. We have the lowest inventory since we've been keeping record. That's going to slow things down because that makes the buying process a little more difficult," said Steve Bois, Rockford Area Realtors CEO.

Bois says if you're considering selling, do it now before the spring competition creeps in.

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