The National Association of Realtors reported January sales of existing U.S. homes were weak in all parts of the country except the Midwest, where sales posted an increase of 3.4 percent.
In the latest report released by the Illinois Association of Realtors, several counties reported January median home price increases over last year. These include Grundy County stating prices rose 8.6 percent and Cook and Kendall Counties stating growth was by less than 1 percent.
Billionaire investor Sam Zell recently stated on CNBC that he sees a U.S. housing market recovery this spring. "I think starts have already pretty much bottomed out," Zell said. "I think the housing market this spring will begin its recovery phase."