Is the Chicago Market Stabilizing?

Today's Tribune article, "A Glimmer of Relief in Housing" does indeed offer some good news about the housing market.

While the number of sales has fallen by about 27% from last year, the prices were essentially unchanged. And a flat market is better than a declining market.

Sellers are getting the picture: if they want to sell, they have to price appropriately. That means they can say goodbye to the 6% or greater appreciation we have become accustomed to, at least for the time being. If you bought within the last few years, you might sell it for about what you paid for it but you will sell it.

So the "drop" in prices in Chicago is really just "not an increase," but it has the same effect. Buyers are starting to get motivated by homes that are more affordable.

There is a ray of sunshine in the market. Are you ready to move?