6/16/2021 12:01 PM
June 15, 2021- Peoria, Illinois. Home buying continues to break records and one of the hot spots is the River City.
Since July of last year, Peoria Area Association of REALTORS® President Jason Catton said since June of 2020 an average of 621 homes were sold per month. Catton said numbers like that have not been seen since 2005, which was caused by new construction.
Today, people are buying older, historic homes, looking for more space.
“Because the inventory is low, as long we still have people coming to our communities, moving to our area, for the affordability, for the jobs, it will probably stay on pace, really the only thing that would slow this down is job loss or interest rates going up,” said Catton.
Peoria has also been helped by remoted work becoming more and more popular. People don’t necessarily have to find work in the area to live in the area.