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.