Whether you are trying to sell your home or are hoping to buy real estate in Chicago, the latest report from Fannie Mae’s Economic & Strategic Research Group shares a positive outlook for your real estate experience.
The data indicates a marked increase in consumer buying since 2010 and a “modest re-acceleration” is predicted for the rest of 2013 due to a stronger labor market and improving financial and housing market conditions. Growth of 2.2% in housing and market conditions for 2013 is further anticipated, which is great news for your Chicago home!
According to Fannie Mae Chief Economist Doug Duncan, a sustainable pace is expected in housing and should “act as a tailwind for the economy throughout the year and into 2014.” The Economic & Strategic Research Group cited continued increased home demand as a possible significant contributor to growth in 2014.
Duncan went on to state, “Our May forecast predicts that the second half of 2013 will be a little stronger than the first half, despite the slowdown during the past couple of months.”
As the housing market shifts, does it change how you feel about your home status?
Do the statistics make you want to sell your home?
As a buyer, does this make you want to buy?
If so, there are lots of options to consider as you buy and sell. If you have questions, we can advise you as to the direction to take in Chicago real estate. To see the May housing forecast, please click here.