Check out the image below to see the available homes for sale in the Chicagoland real estate market. Year over year, inventory is down 21%. That is coming off of extremely low inventory from the prior year.
Usually you would see inventory rise in March and not go down. Hopefully this will be the bottoming year of inventory so we can start to work our way to a more balanced market.
It remains an extremely challenging time for buyers and renters. Even with buyers taking a break because of high interest rates (in the low 7's now) and frustration with the market, there are still plenty of buyers standing in line for the next house that goes live.
Comments