Is the Chicago 2022 housing market in a correction? Are we experiencing Temporary Covid Blues? Maybe… Almost universally, the new listings and inventory for most Chicago neighborhoods in January 2022 has fallen 50% from the same time last year. Closed listings,...
Top Five 2022 Market Outlook Takeaways for Chicagoland 1. The Worst of the Inventory Strain Has Passed, But Inventory Will Still Be a Challenge The Chicago metro area had 15,400 homes for sale in December 2021 compared to 31,600 homes in December 2016. Intense housing...
What’s Next for The New Year? Fantastic Market Constrained By Climbing Rates and Supply Predictions are tough, we all learned that lesson lately. But buyers and sellers need to make decisions based on something, so here goes: Prediction #1: Mortgage rates will...
Chicago’s Weather and Market Begins to Cool Off This month, we are going to examine the market covered by the MRED MLS listing service (basically Chicagoland) to look for trends. MRED tracks data on a weekly basis to compare 2020 to 2021 statistics. This gives us a...
The Chicago Housing Market Boom Actually Calms As Sales Normalize If you had doubts that the COVID real estate peak was ending, look at this infogram. The total closings in Chicagoland were the lowest in 2 months but more telling, the 2nd lowest since the pandemic...
Chicago’s Weather and Market Begins to Cool Off This month, we are going to examine the market covered by the MRED MLS listing service (basically Chicagoland) to look for trends. MRED tracks data on a weekly basis to compare 2020 to 2021 statistics. This gives us a...
