Residential Single Family and Condos are trending slightly more in available over under contract or closed properties over the past week. How does this compare to the market over the past 30 days?
The ratio of under contract/closed to available homes is starting to increase this week compared to the overall picture in the past month. Is this really different than August in any other August?
In Naperville thoughts of school starting are on the minds of many parents. Traditionally renters sever leases in the Spring. This means that fewer people are likely to be strongly motivated to purchase as first time buyers. Serious sellers are looking at the market slowdown and adjusting price expectations or pulling out of the market.
Simplistic? Yes! While these are general benchmarks certain areas have fewer homes/condos than interested buyers. Wondering if you should jump in the real estate market or wait until 2016...prices are expected to move up about 4% and mortgage rates are climbing up. It's not too late to get in on a "deal."
The ratio of under contract/closed to available homes is starting to increase this week compared to the overall picture in the past month. Is this really different than August in any other August?
In Naperville thoughts of school starting are on the minds of many parents. Traditionally renters sever leases in the Spring. This means that fewer people are likely to be strongly motivated to purchase as first time buyers. Serious sellers are looking at the market slowdown and adjusting price expectations or pulling out of the market.
Simplistic? Yes! While these are general benchmarks certain areas have fewer homes/condos than interested buyers. Wondering if you should jump in the real estate market or wait until 2016...prices are expected to move up about 4% and mortgage rates are climbing up. It's not too late to get in on a "deal."
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