
Illinois Association of Realtors February 2016 Market Stats
In February 2016, sales of existing homes in the Chicagoland area were up, and prices jumped, which is an indicator that home selling this season will show strength for people putting homes on the market according to a Chicago Tribune article.
The inventory of homes available to buy is rather slim, and prices have increased for the past 3.5 years. Lack of inventory availability creates a demand for new construction. Increased equity for the homeowner can be used to fund house and yard improvement projects.
And that’s good news for the construction and landscape contractors we work with. Thanks, Chicago Tribune and Illinois Association of Realtors for the insight!
