Mortgage interest rates have hovered above 7 percent for the last few weeks. Despite interest rates being at the highest levels in 20 years, Chicago home buyers are snapping up properties at a brisk pace. Between July 2023 and August 2023, Chicago homes averaged just...
If you’re a Chicago home buyer, this market is déjà vu all over again. There are relatively few homes for sale and home prices are rising. Chicago’s June home inventory was 24.8% lower than June 2022, with new listings down about one-third from a year ago. As of...
Real estate fraud affects home buyers and homeowners in Chicago and around the country. These scams happen year-around, but they increase during the summer when real estate activity is high. Here are two examples you’ll want to know about! Down...
If you’ve never heard of a mortgage buydown, it’s worth learning about! A mortgage buydown reduces your financing costs by temporarily lowering the interest rate. This perk may be offered by Chicago area home builders, or other sellers, as a purchase...
Bidding wars are back in popular neighborhoods as Chicago area home buyers compete for limited inventory. Available housing inventory in February 2023 totaled 17,684 homes for sale, representing a drop of 11.4% from February 2022. As of March 2023, home inventory...
Statistically, Chicago area home sales activity has declined, but home buyers are very active in the market. Here’s a look at the sales trends, along with our advice for Chicagoland buyers and sellers! According to the Mainstreet Organization of REALTORS®,...
