Illinois home sales surged 28.5 percent over previous-year levels in July and median prices increased 14.2 percent, providing evidence of a strong summer housing market, the Illinois Association of REALTORS® reported today. Statewide home sales in July 2013 totaled 16,012 homes sold, up from 12,461 in July 2012. Illinois total home sales are the highest since August 2006.

“Slight increases in interest rates over the past few months have done little to slow interest in homeownership,” said Michael D. Oldenettel, CRS, GRI, president of the Illinois Association of REALTORS® and Managing Broker/Owner with RE/MAX Results Plus in Jacksonville, Ill. “Buyers are clearly comfortable enough with the way the economy is progressing to make a big purchase, and sellers are getting off the sidelines as they see prices begin to erase losses sustained during the recession.”