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Addressing the Chicago-Area Housing Shortage: Can New Construction Be an Answer?
 
 
Addressing the Chicago-Area Housing Shortage:
Can New Construction Be an Answer?
 
 
There's a home inventory shortage currently being experienced in the Chicagoland area, just as there is all across the U.S.  A recent report shared in Crain's Chicago Business proves that to be true, as it states that the number of homes for sale in the Chicago market in early 2020 is at its lowest level in 13 years.  
 
That housing shortage is effecting first-time homebuyers especially hard.  Homebuilders have taken note.  As a result, many builders have begun tailoring their new construction projects and homes to please the eye and fit the lifestyle of younger first-time buyers.
 
I did a little research of just a small portion of the Chicago-area housing market ... a 10-mile radius in Will County (located south of the City of Chicago) ... just to see what kind and how many new construction projects were to be found.  
As of this writing, there are almost 500 new construction homes available on the current market and available for purchase.  Imagine the possibilities and number available throughout the entire Chicagoland region.
30 of those new construction homes were located in my hometown of Manhattan alone.  Other smaller communities within Will County, such as Channahon, were seeing fluid activity, as well.  That's positive news.
But ... more

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