All of this is happening during the COVID-19 pandemic and the resulting economic downturn.
Sue Miller, designated managing broker at Coldwell Banker Real Estate Group McHenry, and the 2021 Illinois Realtors president, joined ABC 7 Chicago Sunday to talk about the real estate market and what s driving this growth.
WATCH: Our Chicago Part 2
During the month of October, home sales in Illinois jumped 34% compared to last year.
Tommy Choi, past president of the Chicago Association of Realtors and co-founder; Keller Williams of OneChicago; and Geoffrey Hewings, emeritus director of the Regional Economics and Applications Laboratory at the University of Illinois spoke, as well.
Three weeks ago, the 1.4 million-member National Association of Realtors formally apologized for its past policies that contributed to segregation and racial inequality nationwide in the 20th century, sparking backlash among some members.
The association has previously acknowledged that it actively fought passage of the Fair Housing Act and that it did not strike discrimination from its code of ethics until six years after its passage. NAR has also admitted that “many Realtors were complicit in odious practices like redlining and enforcing racial covenants” well into the 1960s. Moreover, the association long excluded members based on race or sex.
According to NAR, in 1924, the Realtor Code of Ethics was revised to include Article 34, which stated: “A Realtor should never be instrumental in introducing into a neighborhood a character of property or occupancy, members of any race or nationality, or any individual whose presence will clearly be detrimental to property valu