Sparked by a key tax credit for first-time homebuyers, the real estate business showed signs of a strong turnaround in the second half of the year. Stephenson County home sales in November 2009 outpaced sales from November 2008 by more than $1 million and, through the first 11 months of the year, home sales in the Freeport region had fallen by only 3 percent compared to 2008 figures.
The outlook was not as bright in the Galena region, where home sales dipped by approximately 40 percent in 2009. The precipitous decline was likely caused by Chicago residents’ reluctance to buy secondary homes in the Northwest Illinois market.
2009 IN REVIEW: Real estate battles the recession - Freeport, IL - The Journal-Standard
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