DeKALB | After years of a booming housing market, the area real estate market has seen a recent drop in the amount of homes purchased.

In Sycamore and DeKalb, there have been housing market slumps. Within the past few years, area buyers have decreased as the number of households has increased.

“Right now, we are declining according to Illinois standards,” said Century 21 realtor Deanna Merchant. “The market has softened up and we have more inventory than buyers.”

As each town and region experiences different fluctuations in their markets, they share the fact that each day brings a new buyer and a new seller.

“[The market is] very stable,” said realtor Sue Elsner. “We’re not seeing our prices change a great deal. The market is a little slower, but we’re still moving inventory, and still selling houses.”

When students choose to live off-campus instead of in residence halls, their decision also affects the real estate market.

“Because of the softened market, I am finding that more NIU students are buying than renting or having a lease,” Merchant said. “[Students have] helped the market through the spring and summer.”

Tom Skora, managing broker of ERA Elite Realtors, said the current decline is temporary.

“The market is stabilizing and building has slowed down, but as a university grows, the town grows,” he said.

In the northern Illinois region, there were 27,351 housing units in 1990 and 39,000 in 2005. In this year alone, the housing market has seen a significant change.

“We have had a phenomenal 2006,” Merchant said. “The beginning of the year through August was strong, and there is a real strong market in this area. It has just slowed.”

In 2005, however, 3.6 percent of the units were vacant as stated in a survey conducted by the NIU Regional Development Institute. While value in these units rise, the market still shows a standstill.

Katie Trusk is a City Reporter for the Northern Star.