Illinois New Listings Down from 2021

 

Market Update

• Homes are still selling fast. 
• The Market is not as hot as it was in the Spring.
• There are less buyers due to Interest rates. 
• Homes that look the best and are in better condition sell much faster and for TOP DOLLAR!
• Yes, it is still a Sellers Market.
• Covid has had very little impact to this current market.
• Monkeypox has had no effect.
• High Gas prices has had little affect on home viewings.
• Homes delivering Lake Michigan Water are more preferred than homes that offer municipal well water.

5 States with the Largest Population Growth

 Not a big surprise here. Funny how most people seems to be heading South away from the snow. 

Interesting Words from a former President and General

 “If we are to have another contest (civil war) in the near future…I predict that the dividing line will not be Mason and Dixon’s, but between patriotism and intelligence on the one side, and superstition, ambition, and ignorance on the other.” - President Grant, 1875

Interesting Chart on home prices since 1963

 

Chart shows that Real estate is slowing down in most areas of the country. Although the Midwest shows a significant increase in April, it has slowed down considerably in May and June in Northwest Indiana and NE Illinois. 

The economy, of course, is the biggest factor. 

We feel buyer demand will drop, and that prices will stabilize. 

We also think this real estate boom will slow down.