Real Estate Market Trends from Equifax

Real estate trendsHave you been thinking of buying a new home in Chicago? Or are you considering putting your home on the market? Making real estate decisions is tough. Buying or selling a home requires tons of research, time, effort and emotion, not to mention money. That’s because your home is one of, if not the most important financial decision of your life. The best you can do is to educate yourself about the market and the home buying process so that you are as knowledgeable as possible, will know what to expect and will make smart decisions.
The Equifax Finance blog has tons of great free resources on real estate, including articles, webinars and videos. A recent Equifax Finance blog article, “Buying a Home? What’s Happening in Today’s Real Estate Market” gives buyers and sellers some market trends and advice from real estate experts. The experts in the article were Amy Crews Cutts, chief economist for Equifax, Steve Cook, former vice president of public affairs for the National Association of Realtors and Ilyce Glink, real estate author and radio host.
The article shares the expert’s research and reflections on what is going on the industry. Cutts discussed the low, but slowly rising mortgage interest rates. Buyers should expect rates to continue to rise, albeit slowly. While Cutts can’t predict how fast and how far they’ll go up, she doesn’t expect rates to reach 6 percent for years. For buyers who have low rates, lock those rates in now before they get any higher. Cook discussed the supply and demand action of the seasons and how inventories and home prices are all tied together with the seasonal shifts.
Read the full article on the Equifax Finance Blog and if you’re looking for more helpful real estate advice, browse the site’s many resources. The site also provides resources on other personal finance topics, like retirement, insurance, taxes,
credit ratings and more.