Thursday, January 4, 2018

Why 2018 is the Year to Buy a Home on Chicago's North Shore

If you have a fresh start on your mind, you may have already started browsing homes for sale on Chicago's North Shore— and you're right to do so! 2018 will be a great year to buy a home in Winnetka, Glencoe, Deerfield, Highland Park, Northbrook and the surrounding communities for many reasons, some of which I've included for you below!

Prices are rising
You have heard over the past few months that prices are rising and that trend is set to continue throughout 2018, just not quite at the rate they were before. Moderate price increases are expected for the real estate market and if you're ready to buy, now is the time to ensure you don't end up spending more than necessary.

Rates are rising
Just as I mentioned above, you will want to act now on your North Shore dream home to avoid paying more down the road. Interest rates are expected to continue rising, with two to four more hikes over the next 11 months. By the end of the year, rates are projected to be at 5 percent, so don't delay your home purchase!

Inventory is coming back
It is no secret that inventory over the last year has been on the lower end of the spectrum— with very few homes for sale on Chicago's North Shore. However, this year we are expected to see a recovery, with the return of inventory to the local real estate market. Middle to upper level price points will show the most growth in inventory, which means your options for available properties will be much wider than in the past.

Ready to make a move for the new year ahead? Give me a call today! As your North Shore real estate expert, I am here to help walk you through the entire process!

Happy new year!

Janie Bress
Your North Shore Real Estate Expert

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