Redfin recently polled 435 of its agents, and 65% of them expect the home purchase market this year to be more competitive than it was in 2013.
The number of homes available for sale in the Chicago area in 2014 is 29% below the 2013 level, and agents foresee bidding wars. At the very least the inventory shortage is likely to reprise the multiple-offer scenarios common so far this year and throughout much of last year.
You can read the full report in Redfin’s Research Center.
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