Happy Friday!
Check out what’s happening in our housing market this month!
If you prefer reading, here are the cliff notes ⬇️
🏡 Home prices are up 8.8% compared to last year, with the median sales price for a detached single-family home at $370K.
📉 Inventory remains low with a 2.3-month supply, keeping the market in favor of sellers—though some neighborhoods in Chicago are shifting toward a buyer’s market.
💰 Mortgage rates are sitting at 7%, and with inflation and a strong job market, we’re not expecting a drop anytime soon.
Hope this was helpful!
John Sintich, Realtor®
Keller Williams Preferred Realty
708-612-0644
