Chicago-Land Market Report September 2022

Hello Friends & Colleagues,

Here’s an update on the real estate market.

Compared to this time last year, the number of home sales is down 35%. This doesn’t surprise me because interest rates have risen so quickly. However, if you’re still planning to buy in the immediate future, this is a GREAT time to buy as there is little competition.

A lot of buyers have decided to wait until spring, so if you’re still in the game at that time. Prices will most likely be higher and competition will also be high.

History shows that interest rates always fluctuate, especially after a spike, so remember you can refinance when the rates come down. (they always do) Most lenders don’t charge for a refinance (or very little anyways). I know my lenders don’t charge.

Get your no-cost/obligation home value: www.danfirks.com/evaluation

Search for your new dream home: www.danfirks.com/listing

So, basically, if you are thinking of Buying, Selling, or Investing in real estate, there is only one thing to remember… Call Firks 1st®

Have a great rest of your weekend everyone!

-Dan

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