November 2018 real estate market highlights

What kept us up at night in November?

November and December often equates to a drastic slow-down in residential real estate, as people's focus shift from buying homes to buying gifts and plane tickets to visit family and friends. This year was different. The Federal Reserve raised interest rates one more time in 2018. While interest rate increases don't necessarily translate into mortgage rate increases, they can. 

While recent stock market activity have generated some heart-pounding drops, and - to a far lesser extent - rallying rises, that volatility has not translated into the same tidal waves within residential real estate. Increasing home prices and mortgage rates have rather created a sense of

With Thanksgiving barely behind us, Chicagoans are braving an unusually cold December and are preparing for the most wonderful time of the year. Few might be thinking about real estate but now is the time to analyze the state of the local and national housing market. 

If you have been thinking of buying  a home for a while, these historical home-shopping facts may be of interest:

• According to some real estate professionals, the Chicago housing market practically shuts down between Thanksgiving and Super Bowl Sunday. In addition to the busy lives we all have during this time, Chicago weather plays a significant role in the inactivity of the market. 
• Sellers want to list their home for sale during the busy spring-market and take