Cathy Michaels, a Naperville real estate agent, stated that the Chicago area has seen an increase in home sales over that of last year. This increase in sales is happening as interest rates have reached historic lows.

According to a report from the Illinois Association of Realtors, the sale of Chicago area real estate has increased of 33.6% between May 2010 and May 2009.

In May 2010, the Chicago Primary Metropolitan Statistical Area (PMSA) had 7,580 homes that were sold as compared to just 5,673 the year before. The PMSA statistics include the sale of real estate in Naperville.

“The market is offering many great reasons to buy right now, and many are taking the opportunity to invest in properties. Prices on homes are extremely attractive for buyers and interest rates are at a historic low. As a result, making the important decision on whether to invest in a home or not has become transparent,” said Cathy Michaels (http://www.cathymichaels.com).

The Naperville real estate agent is referencing the interest rates that have reached 4.875%. Looking across the state of Illinois, the IAR report showed that the majority of counties in Illinois have seen increases in home sales over the prior year. At the same time, nearly half of the counties have also seen median price increases. Michaels also reports that the median price has yet to increase in the Naperville area.

According to the report, the indications that are being seen across the state are positive for the Illinois real estate market. Michaels added, “If there has been a great time to buy within the past year that time is now. The market, especially in the Naperville area, is primed for buyers to get excellent deals on homes.”

To find out more about buying or selling a home in the Naperville area contact Cathy Michaels through the website www.cathymichaels.com or by phone at 630-904-6400.