You'd think that with home sales being down roughly 30% year over year that values would be on their way down as well. Not the case. In March, the number of closings were down 32.5% year over year in Chicagoland while values are up 1%.
On the inventory side, there are 9.1% fewer homes available in March 2023 compared to March 2022. This had led to a challenging time for buyers with less inventory, high prices and high(er) interest rates.
Confused on what to do? Call us at 847-985-0200 for an expert to guide you through this market.