The Market is Different than it was in 2008 & here's WHY

A couple of points & differences between the 2008 market crash & what is currently happening in the real estate market.

LOTS OF DIFFERENCES.

People have much more equity & are on time with their mortgage payments than ever before. Interest rates are low which always spurs on the overall economy. Remember how many different services are connected to one house sale. People need lots of new stuff from blinds to carpeting & the economy benefits from all that & more.

Our inventory level in the Schaumburg Area is 55% below what it was last year in February. People who are selling their homes can expect good sales prices but definitely some inconveniences that we've never had to deal with before. Still, people are looking at homes every day. 

If you have any questions over these numbers or have questions on how your own home is doing at the moment, please feel free to give me a call so we can discuss your concerns.

 

 

  Lyn Sims  ●  Schaumburg IL Area  ●  Northwest Chicago Suburbs  ●  (847)230-7324