Mountain of housing inventory headed for Chicago market

There are a whopping 11,000 new construction housing units currently in the pre-marketing stages of development and Chicago will see a huge amount of housing inventory over the next three years, Gail Lissner said in her annual industry forecast at the Chicago Association of Realtors, which we mentioned in an earlier posting. Lissner, of Appraisal Research Counselors wonders how speculators who are snapping up new construction will affect the market in the short term. “Will they try to re-sell them, rent them or live in them?” she mused aloud to YoChicago, adding, “They probably won’t temporarily flood the market with resales.”

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