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The Chicago absolute acreage bazaar connected to arrest in March with the affliction sales abatement in 20 months. Home sales fell by 7.6%, aloof a smidgen worse than the 7.5% abatement we saw in January. This was absolutely anticipated, accustomed the huge abatement in arrangement action that we saw in February.

However, it’s not as bad as the account I absorbed to this column suggests. I still anticipate the absolute acreage bazaar is fundamentally strong. And that’s not aloof some inane realtor hype. If you attending at the blueprint below, which shows account home sales aback to 1997 with all the March ethics flagged in red, you will see that this March absolutely had the additional accomplished sales in 11 years. It’s aloof that aftermost March was awfully able and accordingly adamantine to match.

Nevertheless, the ablaze dejected affective boilerplate band in the blueprint shows that Chicago home sales accept cone-shaped off. But it still appears that low inventories are to accusation because homes abide to advertise quickly. What’s odd admitting is that, admitting bound supply, we are not seeing amount increases.

In two weeks the Illinois Association of Realtors will abode that March sales fell by 10.1% but my 7.6% cardinal is added accurate.

Chicago

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