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Housing Supply 2016 Top Three Reasons To Make Your Move
Housing Supply
Top Three Reasons To Make Your Move
The spring season has kicked off, and we are full steam ahead into the strongest real estate market in nearly a decade. If you have been on the fence about buying or selling your home, here are some important points to consider:
... For Buyers
1. Increasing Prices. Home prices in Illinois have increased steadily every month for the past 41 months, and experts expect this trend to continue for the rest of 2016.
2. Historically Low Rates. Mortgage rates are around four percent right now, providing buyers with an incredible opportunity to keep monthly payments to a minimum.
3. Rents are Rising. RealtyTrac's 2016 Rental Affordability Analysis found that buying is more affordable than renting in Cook County. The higher rents go, the more difficult it becomes to save for a down payment.
For Sellers
1. Less Competition. The number of homes for sale in Illinois in January declined 12.6 percent from January 2015, meaning there are even fewer homes to meet the incredible demand.
2. Shorter Market Time. Because demand is so high, available properties are seeing multiple offers after spending fewer days on the market.
3. Positive Price ... more

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