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Increase in Business Registrations in Rockford Due to Housing Surge by 2024 End
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Illinois Department of Business Services annual report
Story
Rockford, IL Tops U.S. Housing Market with 52% Price Surge, Supply Up 50%
Apr 27, 2024, 01:08 AM
Rockford, Illinois has been named America's top housing market by the Wall Street Journal, marking a significant turnaround from its previous status as the underwater mortgage capital. The city's property prices surged by 52% over the past year, driven by factors such as affordability, a surge in housing supply of up to 50%, and the attractiveness of its skilled job market, quaint streets, and lush greenery. This resurgence places Rockford among 11 Midwestern metro areas dominating the top 20 in the latest WSJ/Realtor.com Housing Market Ranking, with many sellers slashing prices.
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Similar markets
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Drop in mortgage rates • 33%
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