After recently reporting on the 41.5% increase in Chicago home sales the natural question that a lot of people are asking is “Where is this because I’m sure not seeing it?”
So I looked into it. The first thing I checked was Chicago home sales in different price ranges and, as many expected, it shows that all the increase in sales is at the low end.
As the graph shows, almost all the growth in Chicago home sales is occurring below $250K, with another small increase from $350K – 400K. Of course, the big shocker for me is always how much activity occurs below $100K. Much of that stuff is pretty scary.