Housing Inventory: Median Days on Market in Illinois
MEDDAYONMARIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.00
Year-over-Year Change
2.78%
Date Range
7/1/2016 - 7/1/2025
Summary
The 'Housing Inventory: Median Days on Market in Illinois' trend measures the typical number of days that a home is listed for sale in the Illinois housing market before it is sold.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This metric provides insights into the supply and demand dynamics of the Illinois real estate market. It helps economists and policymakers understand housing market conditions and the factors influencing home sales.
Methodology
The data is collected by real estate industry organizations through surveys of home listings and sales.
Historical Context
This trend is closely watched by housing market analysts, real estate investors, and policymakers focused on residential housing.
Key Facts
- In 2022, the median days on market in Illinois was 25 days.
- Faster home sales can indicate a tight housing supply and high demand.
- Longer median days on market may signal a cooling real estate market.
FAQs
Q: What does this economic trend measure?
A: The 'Housing Inventory: Median Days on Market in Illinois' trend measures the typical number of days that a home is listed for sale in the Illinois housing market before it is sold.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the supply and demand dynamics of the Illinois real estate market, helping economists and policymakers understand housing market conditions and the factors influencing home sales.
Q: How is this data collected or calculated?
A: The data is collected by real estate industry organizations through surveys of home listings and sales.
Q: How is this trend used in economic policy?
A: This trend is closely watched by housing market analysts, real estate investors, and policymakers focused on residential housing, as it can signal changes in market conditions and inform policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting or revisions, and it may not capture all home sales in the Illinois market.
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Citation
U.S. Federal Reserve, Housing Inventory: Median Days on Market in Illinois (MEDDAYONMARIL), retrieved from FRED.