Inflation Continues to Affect the Housing Market

Inflation Continues to Affect the Housing Market
A home is offered for sale in Chicago, Ill., on April 26, 2022. Scott Olson/Getty Images
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Illinois home prices have continued rising as sellers shoot for the moon with the list price of their homes.

The statewide median price went up 5.9 percent to $286,000 in June compared to June 2021. Add higher mortgage interest rates, and some buyers have decided to stay on the sidelines for now, while others end up in a bidding war for a house.

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