Tuesday
January 26, 2010
The Chicago Tribune yesterday reported that Chicago-area home sales surged 33% in December over Dec ’08. The information represents a major departure from the national trend that shows December sales falling almost 17%. The news is prompting cautious optimism about the rebound of the market in Chicago.
Homebuyers who have put their lives on hold are clearly jumping back into the market - prompted by low interest rates and the tax credits. The same cannot be said of home sellers. The first 3 weeks of January indicate that less inventory has come on the market vs. the same period in ’09. Many weary sellers who have seen their equity erode and are feeling beaten up by market conditions have decided to dig in and weather the storm.
And there are still storm clouds on the horizon. A rise in interest rates, an increased number of foreclosed homes in Chicago flooding the market and a rise in unemployment are factors that could kill the rebound.
But for first-time homebuyers, market conditions have rarely been more favorable. If you are ready to take advantage of this opportunity, then you may want to listen to the replay of my teleseminar: “How To Use The FHA 203K Program to Buy Now and Make No Payments For 6 Months!” Or simply register here and you will get the instant replay. >>>
”To Your Success!”
mary!
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