The Trib led its Sunday edition this week with the news that Chicagoland is officially experiencing a buyer’s market. Unofficially, most people – buyers and sellers and casual observers – already knew this. What makes it official? Reporter Mary Umberger quotes Naperville-based Headrick-Wagner Appraisal Group as saying that the Chicago area ended March with a 4.2-month supply of homes for sale. Inventory of more than four months, according to the appraiser, indicates a buyer’s market.
Unfortunately, the study only deals with detached single-family homes. Since the city market is dominated by condos, the story wasn’t nearly as enlightening for us urban folk as it might have been.
(Visited 33 times, 1 visits today)