Chicago housing market attracting 'better buyers'
A recent article in Chicago magazine detailed a number of statistics and referenced a variety of reports about the Chicago housing market recovery. Those looking at real estate in Chicago have many reasons to get into one of the hottest buyer's markets in the nation.
While the recent Case-Shiller Index revealed that Chicago is among the few cities that have yet to post year-over-year gains, the report revealed that Chicago is making month-over-month gains. Furthermore, in July, the Case-Shiller Index revealed that Chicago posted the greatest average price increase, of 4.4 percent, out of the 20 top cities reviewed.
The senior vice president at a real estate firm told Chicago magazine that the new perception of stability in the Chicago housing market has brought forward people she refers to as "better buyers" who understand that the time is ripe to "buy confidently."
Gail Lissner from Appraisal Research said to the news source, "It's a great time to be a buyer." The publication further revealed that the reason it is such a prime time to find homes for sale in Chicago is not simply because prices are low, but because for the first time in a long time, they aren't likely to fall much lower.