If you've been renting for years, nervous about buying a home because of what happened to the economy, it's time to reconsider. The real estate market has recovered and is on the upswing. In some cities in America, such as Phoenix and Las Vegas, the rebound has fully recovered to pre-recession prices.
In the Chicago area, Midwest Real Estate Data, the "MLS" for Chicago-area Realtors, now reports that the number of homes sold, total amount of sales, and percentage increase in home values is now the best since 2007.
Home prices are climbing in the Chicago area, don't wait too long to look into options for buying -- such as locking in today's sales price with a Rent to Own contract. Call Adam at 630-697-4500 to find your new home!
LISLE, Ill., Oct. 22, 2013 (GLOBE NEWSWIRE) -- Midwest Real Estate Data (MRED), Chicagoland's multiple listing service (MLS), reported today that in both dollar volume and total transactions, 2013 is already the best calendar year in area real estate since 2007.
To date MRED sold real estate volume for 2013 totals over $24 billion resulting from nearly 103,000 closed transactions, surpassing all of 2012. MRED has not seen dollar or transaction volumes like this since 2007.
Chicago and the surrounding nine counties have experienced double-digit percentage gains from a year ago. The Chicagoland area has seen eight months of year-over year sales and median price gains. All indicators point in the same direction: a strong housing market.
"This confirms what we all already had a good sense of -- real estate is back," said MRED CEO Russ Bergeron. "The numbers don't lie. Not only are Realtors(R) busier than they've been in years, sellers are benefiting from the hotter market with increased home values. Assuming nothing takes our economy wildly off track, I see nothing but a very positive future for those in the real estate industry and those who own real estate."
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