Housing Inventory: Price Reduced Count in Illinois
PRIREDCOUIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,758.00
Year-over-Year Change
16.21%
Date Range
7/1/2016 - 7/1/2025
Summary
The 'Housing Inventory: Price Reduced Count in Illinois' measures the number of residential properties in Illinois that have had their listing prices reduced. This metric provides insights into real estate market conditions and homebuyer demand.
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 series tracks the count of Illinois homes that have experienced a price reduction during the listing process. It offers a real-time indicator of inventory levels and seller pricing strategies, which are important factors in assessing the health and dynamics of the state's housing market.
Methodology
The data is collected through real estate listing platforms and updated on a monthly basis.
Historical Context
Policymakers and market analysts use this metric to understand housing affordability and potential shifts in homebuyer preferences.
Key Facts
- Illinois has the 5th largest housing market in the U.S.
- Price reductions indicate increased competition among sellers
- Reduced inventory can lead to higher home prices
FAQs
Q: What does this economic trend measure?
A: The 'Housing Inventory: Price Reduced Count in Illinois' measures the number of residential properties in Illinois that have had their listing prices reduced.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into real estate market conditions and homebuyer demand, which are important factors for policymakers, real estate professionals, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through real estate listing platforms and updated on a monthly basis.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to understand housing affordability and potential shifts in homebuyer preferences, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated monthly, so there may be a short delay in reflecting the most recent market conditions.
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Citation
U.S. Federal Reserve, Housing Inventory: Price Reduced Count in Illinois (PRIREDCOUIL), retrieved from FRED.