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Selling Your Chicago Home When Inventory is Down

Date : March 8, 2013

Ready to Sell Your Chicago home?If you are considering selling your Chicago home now is the perfect time!

Chicago housing is showing signs of becoming seller’s market, and nationwide inventory is at a 13 year low! According to the National Association of Realtors (NAR) January Pending Home Sales Index Report, homes are contract are listed at 105.9%, a rate that hasn’t been seen in years, and those stats show that homes, including your Chicago home, can be sold very quickly these days.

Home prices are expected to increase as well, reports NAR Chief Economist Lawrence Yun, since less homes will be on the market. “Over the near term, rising contract activity means higher home sales, but total sales for the year are expected to rise less than in 2012,” he stated. “While home prices are projected to rise more strongly because of inventory shortages.”

Reports of increased pending sales throughout the United States show the largest gains in the Northeast and Midwest, making your Chicago home of prime interest.

More than five million homes will sell in 2013. Call us at 773.235.6100 to speak with a Sergio and Banks Chicago Real Estate professional and have your home be one of them! We’d love to sell your Chicago home!

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