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Northbrook, Aug. 20, 2022 (GLOBE NEWSWIRE) — Northbrook, Illinois –
Chicago-based mortgage broker David Hochberg is helping first-time home buyers across Illinois navigate a tricky and demanding property market that has seen prices rise to such an extent that more and more people are putting their dreams of homeownership on hold. The Illinois mortgage broker is making a case for why the best time to buy property for most first-time home buyers is right now.
According to statistics from the real estate website Red Fin, in June 2022, Illinois home prices were up 6.5% compared to the same time last year. The median selling price for a home in Illinois in June 2022 was $298,200. At the same time, the available housing inventory in the state also increased by a huge percentage as, today, there are 13.2% more homes to choose from as compared to a year ago. Homebuyers are also willing to pay top dollar for their dream property as 51.6% of homes sold above the list price, up 5.4% from June 2021.
However, though it may seem like the property market is going to get further out of reach, there is both some good news and bad news for first-time home buyers in Illinois who …
Full story available on Benzinga.com
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