Corcoran Urban Real Estate
 

Chicago-area Asking Price Increases Slowing

Chicago-area Asking Price Increases Slowing


That's a fun and confusing title - asking prices are up in the Chicago area in every metric, but the increases, year-over-year, quarter-over-quarter are slowing. So the asking price increases are slowing.
Data from real estate website Trulia's Price Monitor was recently released for the month of November shows that asking prices were positive but showing signs of slowing.
Year-over-year pricing in November was up 9.4 percent, better than the national number but quarterly increases were up 2.9 percent, behind the other metros.
According to a report in Chicago Agent Magazine, the slowing increase might not necessarily be a bad thing. Millennials need affordable housing stock in order to enter the market and fuel its future growth - so slowing price increases might be an opportunity for them to break in to the market.
For more on this report and a nifty interactive chart, head over to Chicago Agent Magazine.