Housing Market Crash?

Is the housing market going to crash? Is there a housing bubble?

It’s important to know that Real Estate is hyper-LOCAL. What is happening now in other markets, may not be what is happening in Naperville, Aurora, Orland Park, Schaumburg and the surrounding Chicago suburbs. The real estate market (activity) can change by the week, so one should not assume the market is going to crash, or there is going to be a housing bubble, let alone if a market is a buyer’s market, etc. based on news headlines about a national real estate market.

There is no such thing as a national real estate market, actually. What is happening in Tacoma, probably isn’t happening in Topeka. What is happening in Southern California, Texas or Tennessee, is probably not similar to what is happening in the Chicago area.

Even in the Chicago suburbs, there are markets within markets. The most common price range here (usually under $500,000 or so) may be more of a competitive market for buyers than over $1 million+, where the buyer pool is usually smaller in our markets. The market for single family homes may be different than townhomes…or condos…and inventory can even vary from one zip code to another in one city.

No one has a crystal ball to say what exactly the market is going to do. The local market. What we’re seeing at the time of this post is low inventory in many of the markets in which we work. It can still be competitive for buyers because there are not enough homes for sale to meet buyer demand, but in working with The Glockler Group, it is doable, buyers. Our multiple offer winning percentage, and number of happy clients, is very high.

Whether you’re looking in the Naperville, Orland Park or Schaumburg area, let’s talk! We cam go over what is happening in YOUR local market. (708) 480-2011