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Foreclosure Numbers Are Nothing Like the 2008 Crash

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008. The reality is, while increasing, the data shows […]

Expert Home Price Forecasts for 2024 Revised Up

Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall. So, let’s see exactly how experts’ thinking has shifted – and what’s caused the change. 2024 Home Price Forecasts: Then and Now The chart below shows what seven […]

The Surprising Trend in the Number of Homes Coming onto the Market

If you’re considering moving, knowing what’s happening in the housing market is important. Here’s an update on the supply of homes currently for sale. Whether you’re buying or selling, you should pay attention to the number of homes in your area. In the housing market, regular patterns happen every year, called seasonality. Spring is the peak homebuying season, […]

Expert Home Price Forecasts Revised Up for 2023.

Toward the end of last year, there were a number of headlines suggesting that real estate experts and their home price forecasts were projecting home prices to fall substantially in 2023. This prediction stirred a lot of fear and questions about whether we were going to see a repeat of the 2008 housing crash. However, […]

Why It’s Still a Seller’s Market Today?

Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market, offering benefits to home sellers as the supply of homes for sale is quite low. But what does that really mean for you? And why are the seller’s market benefits especially present today […]

Don’t Expect a Flood of Foreclosures

The rising cost of almost everything from groceries to gas right now leads to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that many foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last year, experts say a flood […]

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared.  Comparing this year’s numbers to the two ‘unicorn’ years […]

What To Expect as Appraisal Gaps Grow?

In today’s fiercely competitive Chicago real estate market, low inventory and high demand are driving up home prices. As a result, we are observing a trend where appraisal gaps grow. As many as 54% of homes in Chicago are receiving offers over the listing price, based on the latest Realtors Confidence Index from the National […]