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The downward trends that started earlier this year continue as expected. Broadly, inventory is up 10% compared to this time last year, and in the case of condos its averaging a 25% increase in popular northside neighborhoods like Lincoln Park. At the same times the total number of sales (buys/sells) are down 12% over last year, down 19% compared to 2017. Property taxes are not helping, with very large increases in some areas and assessment appeals being rejected where they once were successful.

The only bright spot is the mortgage interest rates keep dropping. For those with good down payment and excellent credit, the 30-year fixed rate is around 3.5% as of August 16.

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