If you are a buyer with good credit looking for that perfect home in Chicago, you should look now because there are great deals to be found. If you live in Chicago, Sergio and Banks can help you through the process of buying your home with expertise. We know that the market is favorable for buying and the data has displayed that advantage with recent statistics.
The National Association of Realtors released the following data towards the end of November. Sales of previously owned homes experienced an unexpected rise of 1.4% last month while the number of homes on the market continued to decline, though market analysts were expecting up to a 3 percent drop in overall existing-home sales between September and October. Buyers and investors are turning lower rates into greater buying power to find the homes they want and need.
With the annual rate of home sales now pushed to 4.97 million, the market is at 13.5 percent above last year’s unit sales pace in October. According to NAR, October home sales should have risen even higher. First-time buyers accounted for 34% of transactions and investors made 18% of home purchases in October. These numbers are evidence that it’s a great time to buy in Chicago with Sergio & Banks. For more information, click here or call us at 773.309.4643.
photo credit: woodleywonderworks