- A balanced real estate market has a supply of 6-7 months. On a national level we shifted in December to a Buyers Market. Chicago continues to have low inventory, though there are more single family homes on the market now than last year.
- Breaking it down: New Construction condo supply is up 21% since 1Q15 @ 4 months supply and resale is down 18.4% over the same time frame @ 3.1 months supply. New construction single family home supply is up 34% @ 7.4 months, while resale is up 10.9% @ 5.1 months.
- As per Ellie Mae, FICO score requirements continue to lower (719 as of last published in Jan ’16).
- Core Logic reported in their February that in Illinois the year over year price change is forecasted at 5.2%.
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