How's The Market In Your Neighborhood?
What's new this month?
Sales of existing homes and new listings continue to be on track of growth, due to the strong economy. Housing affordability is becoming a growing concern due to price increases, and is starting to affect new construction of single family homes. Builders are showing a sign of caution as prices of homes and mortgages rates increase. While housing is still considered relatively affordable, measures of affordability have shown a decline over the past years.
Meanwhile, Chicago has been named one of the top 10 cities in the world. Global tourism and real estate advising group Resonance Consultancy named Chicago as one of the best cities in the world. Chicago was ranked number…