Fall Housing Market

It's that time of year. The temperature begins to drop, the leaves start turning colors, and the Real Estate Housing market begins to take an upward swing. This is an exciting time to be involved in the Real Estate market. As a Realtor we say goodby to the dog days of summer, and usher in a whole new group of buyers and sellers. The summer market generally is a slower time for Realtors. Of course we are still completing transactions. But, with buyers and sellers taking summer vacations, enjoying the many festivities Chicago has to offer, the market tends to slow down a bit.

I anticipate a very busy fall market. With summer vacations over, festivals winding down many buyers and sellers shift their focus back to either buying or selling a home. We have just recently experienced a freeze in interest rates. For the first time in 18 sessions the Federal Reserve has not raised the interest rates (see my previous blog entry No Rate Hike...a Positive Signal). Also, the leasing market is coming to a close. Most leases end in September and October. So those who were once renting are now looking to buy. All this could make for a very busy, and productive, fall market.