Area homes sales up despite shortage | Northwest Indiana Business Headlines



Home Sales



Home sales in the Region remained strong in August despite the continued shortage of homes on the market and the rising prices, according to information from the Greater Northwest Indiana Association of Realtors.

GNIAR collects sales data from members in a seven-county area, including Lake, Porter, LaPorte, Jasper, Newton, Starke and Pulaski. In August, the members reported selling 1,246 homes, almost 100 more than August of 2019, or an increase of 8.3%. August was also up from July’s total of 1,227. For the year, sales are about 1% up from 2019 at 7,113 units sold.

The median price of a home rose almost 12% from a year ago to $211,500 and it jumped almost 5% from July’s median price of $202,000. So far this year, the median price of a home has risen 8% to $189,000.

GNIAR CEO Pete Novak said a total of about

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Chicago aldermen advance new members for Northwest Side home equity board

Chicago aldermen on Monday advanced a group of appointees to a Northwest Side taxpayer-funded commission that guarantees home sale prices for members in several bungalow belt neighborhoods, a program that was created decades ago to try to stem white flight.

Some aldermen questioned the policies of the Northwest Home Equity Assurance Program, which has collected more than $10 million in small property tax payments from all homeowners within its boundaries since the late 1980s, but has handed out just a few payments in that time to residents whose houses didn’t sell for a set minimum price.

“People pay into this program via their tax bill, and it has $9.5 million, $10 million sitting in an account,” said Northwest Side Ald. Gilbert Villegas, 36th, who has for years criticized the agency for not doing more with its reserves. “And it has staff. And what we need to do is to

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