A shortage of inventory across the country will continue to make the buying process difficult, especially for first-time buyers this spring and summer.
Chicago has seen dramatic decreases in its inventory of houses for sales, particularly in the middle and bottom tiers. Year-over-year, Chicago's bottom tier inventory has declined by just over 15 percent while it's middle tier has seen a decline of 16.7 percent.
Some markets across the country have seen even more dramatic declines. Dallas, for example, saw their bottom tier inventory decline by almost a third.
As inventory tightens, first-time buyers will find themselves competing even more heavily than last year.
Read more at Chicago Agent Magazine here.