Belleville

Business Briefing: Illinois home prices rise, sales fall in November

Home values continue to rise across the Land of Lincoln, but sales volume has recently dropped.

The latest numbers from the Illinois Association of Realtors revealed that November marked the 39th consecutive month for year-over-year gains in home prices across Illinois, but the 9,640 sales recorded during last month were 3.5 percent down from the number of transactions recorded in November 2014.

The statewide median price, the price at which exactly half sold for more and half sold for less, increased last month to $165,000, a 6.5 percent jump over statewide median price of $154,900 recorded 12 months ago.

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Although the future of the St. Louis Rams and prospect of moving to the Los Angeles market has not been determined, construction is underway on team owner Stan Kroenke’s proposed site in Hollywood Park, Calif., where he has proposed to build a new stadium. Learn more here.

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Ford is recalling some older models manufactured 10 to 12 years ago because of faulty headlights that have been found to suddenly go dark. The recall covers about 313,000 vehicles that includes some Ford Crown Victorias and Mercury Grand Marquis from the 2003 to 2005 model years. Read more here.

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Shares of Express Scripts are up at the opening bell Tuesday as the pharmacy benefits manager anticipates greater earnings next year. The St. Louis-based company has recorded adjusted earnings between $6.08 and $6.28 a share. Find out more here.

-Will Buss, BND business writer

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