The Good:

Evidence is mounting that inventory will finally improve in 2019, and we have already seen that in a few areas (especially condos). This may apply some downward pressure on prices for beleaguered home buyers. Perhaps a buyer’s market is ahead or at least a more balanced market (where the inventory of homes is 4-6 months). Mortgage rates spooked some buyers in the fall as the 30-year mortgage rate was above 5% for the first time in years, but they have since fell back to around 4.25% for a single family home. Other bright mortgage news is Fannie/Freddie loans have a new loan limit of $484,000, up from $453,000. Most buyers want the best interest rates offered by Fannie/Freddie loans and so they try to keep their loan under these amounts. [Read more…]

This is a great time to buy or sell a home in some of Chicago’s most popular neighborhoods and Suburbs. Our December 2018 market reports will give you the edge you need to find the home of your dreams. These guides will help answer questions that are bound to come up in your real estate search such as:

• How much are homes selling for?
• How many homes are for sale?
• How long do homes stay on the market before they sell?
• How many homes have sold over the last month?
• Are homes selling above, at, or below the asking price?

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Is it a good time to buy?

Tis’ the Season….especially for condo buyers.

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