Realtors today reacting to a recent analysis by GoBankingRates.com that finds Peoria’s housing market one of the nation’s most vulnerable.
The website reports that of 500 cities across the U.S. there are 50 that could turn ugly.
And they have Peoria at #1 on that list.
But the Peoria Area Association of Realtors – or PAAR – questions the data sourced and says the conclusions can be misinterpreted.
For one thing, the median list price for homes – $128,000 – is actually more than $3,000 higher than what the website cited.
“Peoria’s growing. It is thriving. We have so much going on between being named one of the top 50 places to retire,” said Suzanne Miller, PAAR President.
She believes that financial services group was hoping to increase sales, rather than relying on verifiable information.
Still, PAAR reports new listings in Peoria’s housing market are down by 6.7% from last year.
Both pending and closed sales are also down by 1.8 % and 2.3 % respectively.