Buyers’ Market Emerging for Chicago Homes – Nicholas P Lambrinatos (Illinois)

Nicholas P Lambrinatos (Illinois)
Buyers’ Market Emerging for Chicago Homes Nicholas P Lambrinatos

Guiding Great Rate Mortgage, Nicholas “Niko” P. Lambrinatos is an established Illinois executive who works to place clients throughout Chicagoland in the home of their dreams. A particular emphasis for Nicholas P. Lambrinatos, who also goes by Nick, is ensuring that first-time home buyers can secure optimal residential locations.

For people considering the purchase of a home in the Chicago area, the present moment is described as a great time to start planning. According to the Home Buying Institute, the region is evolving in ways that favor buyers over sellers, with prices expected to fall by 1.6 percent over the next year.

This is reflected in June 2019 data that indicates Chicago as a market with a six-month supply of houses for sale. This inventory exceeds that of a majority of metro markets nationwide and indicates a market that is “fairly balanced.” In addition, median home-selling prices in Chicago have stayed flat over the past 12 months, with lagging job creation a major factor.

This translates to an emerging opportunity for home buyers who were previously priced out of the market or are looking to acquire a property while interest rates and prices are low.

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