Chicago Housing Market | September 2019
As we head into the Fall Market, activity continues to remain fairly stable. There is somewhat of a struggle between increased affordability and anxieties regarding the state of the economy. Historically low interest rates are giving buyers increased spending power, however, concerns over trade wars and political instabilities are causing them to tread cautiously in the marketplace. In the Chicagoland area, home prices are continuing to grow, but at a much slower pace than we saw at this same time last year. However, despite fears of a recession, economists expect to see home prices rise as a result of low housing inventory coupled with historically low-interest rates. Consumer confidence is still high on the back of record employment rates.
If you a homeowner on the fence about selling, now is a good time to list. Low housing supply will spark competition among buyers who want to take advantage of interest rates below 4%. If you or anyone you know is thinking of selling we would be happy to discuss a no-obligation look at your home’s value in today’s Market!