Bloomington-Pontiac, IL

There is no doubt that the real estate market in the Bloomington-Pontiac, IL CSA has been on a roller coaster ride over the past few years. After reaching an all-time high in 2006, home prices began to plummet in 2007 and 2008. However, since bottoming out in 2009, prices have been steadily rising once again.

One of the most notable trends in the housing market right now is the return of buyers who had been previously sidelined by the recession. First-time buyers and move-up buyers are both active in the market once again, thanks to improving economic conditions and low mortgage rates. Another trend that is being seen is an increase in demand for rental properties. With many people still hesitant to purchase a home, investing in rental properties has become a popular option.

Overall, the real estate market in the Bloomington-Pontiac CSA appears to be slowly but surely recovering from the devastating effects of the recession. Prices are rising and there is more activity among buyers and renters alike. If this trend continues, it is likely that we will see even more positive changes in the months and years ahead.