Description

In this episode, Dave discusses the current real estate market through May 2023.

Key Takeaways:

• So far, the northside neighborhoods have had a better year than much of the city. 
• As a whole, supply is down about 15%, but demand is down almost twice that across all of Chicago.
• Interest rates are driving both the low supply and the lower demand. 
• Supply and demand for condos is not as hard luck as for single-family homes. 

"Affordability is driven by interest rates. And so if interest rates go down, then that is going to help sales, shorten market times, and sales-to-list ratios are all going to be better. All those things are going to be benefited by interest rates falling." —  Dave Nimick

Connect with Dave Nimick:

Website: https://thenimickteam.com/

Email: dave@thenimickteam.com

LinkedIn: https://www.linkedin.com/in/davenimick/

Facebook: https://www.facebook.com/thenimickteam

Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty

Show notes by Podcastologist: Chelsea Taylor-Sturkie

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.