The national real estate market is on a downhill slide slipping more than 12% in 2007.

But Central Illinois's housing market, specifically in Peoria, is not following the trend.

The Peoria Area Association of Realtors reports home sales fell just five percent last year. In fact, 2007 marked the third highest year in sales in the association's history.

There is no one particular answer for why Peoria is doing better than other cities across the U.S, but there are several possibilities.

Association President Becky Peterson says the Peoria housing industry can thank area businesses for some of its success.

"We've got the Peoria Next that is ahead of filling their leases, six months ahead," said Peterson. "We've got a cancer research facility being built that's going to bring international attention to Peoria. Those are just a few of the economic industries for our area."

Some realtors also say the slow rising rate of appreciation on homes in Peoria makes the market affordable.

Traders Realty President Jeff Kolbus said, "We had one seller who received six offers on their home in the month of January. It was listed early January it got six offers right away and it closed at the end of January."

Peterson says there are four factors that drive the housing market interest rates, inventory, and price and consumer confidence. She says consumer confidence is where Peoria is failing.

"The national headlines every time you turn on the television people get that perception," said Peterson.

The perception that the housing market is struggling all over...including Peoria where Peterson feels that couldn't be further from the truth.

Kolbus says for the places were the market is failing there is no need for folks to be too concerned.

"Don't feel sorry for the Florida's of the world or the California's of the world because they were getting 30 percent appreciation a year on their homes. Now they have a corrections and they are now down 13 percent nationally that's not too bad.

Peterson says 2007 may not have been the best on record for home sales in the Peoria, but it was steady and she expects the results to be relatively the same for 2008.

"Everything that we have read on the national association level and the Illinois state level and the economic indicators say 2008 should still be a very stable housing market."

The President of the Twin Cities board of directors says realtors there sold 8.7% fewer homes in 2007, but overall their sales were up almost three percent from last year.