Urban Real Estate

Homes For Sale Hit A New Low

Homes For Sale Hit A New Low

If the current numbers are any indication, this year home buyers are going to face a big problem when the spring selling season begins: low inventory.

As of earlier this month, there are fewer homes listed for sale in the city than at any point in the last ten years. A total of 7,028 homes were on the market, the lowest number recorded by the Chicago Association of REALTORS® and 3.7 percent below the level from one year ago. 

"You'd better have your ducks in a row, because it could be a fast-paced market with such low inventory," Urban Real Estate's Matt Silver, also CAR's president told Crain's today.

To read more on what this means for buyers and sellers, head over to Crain's here.