In one of America’s hottest housing markets, not even 7% mortgage rates seem to be slowing down sales.
Multiple-offer situations remain a regular occurrence. Realtors prep their buyers to expect months-long searches, while motivated sellers can usually wrap up the entire transaction in a week or less.
That’s the current state of affairs in Chicago, where home prices are up 6.7% this year, the most of any large metropolitan area. By that measure, the Windy City’s housing market is moving faster than the perennially hot New York region, as well as San Francisco, where artificial intelligence wealth is transforming the market…