What Does The Chicago Area Real Estate Market Look Like?
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- Опубліковано 24 сер 2024
- ☑️What does the Chicago Area Real Estate Market look like for 2021 and beyond? Well...it depends where you live!
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I miss Chicago.... I just wish I had a reason to move back.
I hope the city and state can turn things around so people stop leaving. There is a lot of good here. Thanks for commenting and watching!
Just moved to Wheaton this month and there’s still not much available in the 300-325k range. As interest rates start to climb higher people are getting priced out for decent/affordable places in the suburbs fast as the price of homes keep going higher. Now all the stuff that just sold for higher than list are being used as comparables.
Yep. Good points.
I’m looking buy a condo on the north side. Should I wait till the end of this year to see if prices drop?
Hey Mika...tough to project! It’s possible prices will continue to rise if inventory doesn’t go up. If you need a place to live soon and don’t want to rent it may be a good time to see what’s out there. I think we will all see a correction at some point but it’s not clear when this is going to happen. And...if you need any help please reach out. All my contact info is below and thanks for watching.
In my opinion it’s also difficult to know what the government is going to do in the future if people keep getting bailed out and not being foreclosed on as Dan mentioned. If the market worked like it’s supposed to people who aren’t paying their mortgage should be forced to sell but it’s politically correct to keep struggling people in their homes. There’s talk about proposing a tax credit to first time home buyers that can be used right away with their down payment but if that passes even more people will buy homes with virtually none of their own money as down payment. I bought now to lock in low interest rates and get out of the potential herd of people getting more free money from the government itching to use it to buy homes in an already insane sellers market which will definitely inflate prices.
Everyone says how this state ranked 3rd for people leaving ... but where are all the homes for sale then 😂 with inventory so low and homes not last long on the market it doesn’t feel like people are fleeing this state.
@@mikacruz7531 Perhaps it’s mainly people leaving the city of Chicago and those people want houses too with an actual backyard instead of an alley with no parking haha. Can’t even go to a jimmy johns without paying a parking ticket or paying $10 to Uber an $8 sandwich
@@mikacruz7531 good point! But the data shows it’s mostly people from the city of Chicago and the outlying counties. It’s possible your looking into a very desirable area where people are moving to from possible less desirable parts of the city?