Peoria home sales down from 2012

By WEEK Producer

April 23, 2013 Updated Apr 23, 2013 at 8:17 PM CDT

PEORIA, Ill -- The 2013 housing market is off to a slow start.

According to the Peoria Area Association of Realtors first quarter report, inventories of homes for sale are down 25%, and closed sales are down 2% from 2012.

PAAR President John Purple says the weather strongly effected the drop in numbers.

"Obviously, the weather was much better in the 1st quarter of 2012, well over 2013," said Purple. "We also feel lenders have more stringent, and that has slowed closings down as well. But as we come into spring our inventory numbers will start to increase, and we will think the momentum will carry on."

PAAR is hosting a series of home buyer's seminars this week at their Willowlake Court office.

The seminars are free; for more information visit our website www.cinewsnow.com.