Mortgage Rates Hit Record Lows

Stateline Home Sales Booming As Nation Sees record-low rates

Home sales across the nation are booming as mortgage rates hit record lows. One local realtor shared what’s behind the buying frenzy and says the deals are good enough to draw those who’ve moved out of their hometown back after decades away. Realtors say the Stateline housing market has drastically improved over the last several years. Rather than looking to move out of the area, people are looking to move in.

Conor Brown from the Rockford Area Realtors says homes in Winnebago, Boone, and Ogle counties sold at record-setting prices in July. 

“Certainly, over the past decade, particularly during the Great Recession, we saw a number of people move out of the region looking for economic opportunity. I think we’ve kind of righted that ship,” 

Boone County specifically was a desired location for home buyers last month.

In July, ninety homes were sold around the Stateline. This is an increase from fifty-seven at this time last year. People who left Rockford are coming back because Rockford has a lot to offer while being more affordable than most big cities. Within 10 minutes, you can get anything you need. Two major hospitals, plenty of clinics, plenty of restaurants, plenty of shopping, you name it! Brown says he expects the market to stay strong as mortgage rates remain low during the COVID-19 pandemic.

Dylan Srocki

Eyewitness News  

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