Rockford faces record low housing inventory, just 150 homes on the market in March

ROCKFORD, Ill. (WTVO) — There were only 150 homes available for sale in March, according to a new report that shows Rockford housing inventory has hit a record low.

The Forest City saw a 22% drop in available homes over the past year, with March’s figures being the lowest in Rockford’s history, and only 10% of what should ideally be available.

Rockford has seen a yearly decline in inventory for nine of the past 10 years.

Connor Brown, CEO of Northwest Illinois Alliance of Realtors, said, “We are seeing a lot of interest from outside the Rockford region that wants to move here. So that’s putting enormous demand on our current housing stock. Plus, we haven’t really built any new homes in any sort of significant way in the last 15 years. So the great recession really stalled any home construction, and we’re just seeing an inkling of that returning here the past couple years.”

The average cost of a home in Rockford currently sits at $212,000.