One of the major factors in this decrease is the heavy amount of snow we had this winter. 4 feet 4 inches was a new record. April is looking like it is turning out to be a great month. Interest rates are low again... almost record breaking.  Large truck orders are showing significant increase... which is a great indicator for the economy 6 months from now.  I believe that the Peoria House Market will show signs of improvement starting this fall but more significant improvement in the spring.  Let's see what happens.

The Good News for right now is that homes are still selling.   To compete in this market... Homes must be priced aggressively and as good of shape as possible to sell.  It's a Pricing War and a Beauty Contest!  The even better news is that if you can buy right now, the market is primed and ready to sell!

As we head into the Home Selling season, home buyers and lenders are more cautious than last year. Peoria Area did 104 FHA loans in March of 2010. Compared to this year, where we did just 64 FHA Loans... that's a 38% decrease. Many where converted to Conventional loans which increased by 36%.