Mid-year real estate report shows some signs of improvement

July 9, 2012

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A reader recently asked Chicago magazine Deal Estate columnist Dennis Rodkin why he's so cranky. She perceived his tone as too negative in an environment that seemed to be on the upswing.

She might have been a little right: In this video response, Rodkin does concede that there have been some positive changes on the market recently, but Chicago isn't improving at the same rate as other cities. He says that we're still trying to sell all the condos we built during the boom and Chicago is still one the worst cities in terms of sales. Rodkin isn't all doom and gloom, however; he says home builders are back at work again and well-priced homes are moving their way through the market.

Bob Floss, President of the Chicago Association of REALTORS, is slightly more positive. "First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now," Floss says, adding that higher rents are pushing some to make the leap to purchase. 

Dennis Rodkin and Bob Floss join Eight Forty-Eight on Monday to discuss the health of Chicago's real estate market. We want your questions and comments, too. Call 312-923-9239 to ask the experts about your home search, or tell us if the market has changed your living situation.