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Greystone Releases Market Insight Report, Spring 2019


Greystone Real Estate Advisors have released their semi-annual report on the state of the Windy City’s real estate market; and not all the news was good.

Despite a low unemployment rate of 4%, the city may experience a weakening single-family housing market this year. Expectations are that sales volume will decrease by 7.4% and that median sales prices will drop 1.9%. Higher mortgage rates are to blame as well as the decrease in the federal deduction for property taxes.

But there was better news on the rental front. Last year, rental prices increased by an average of 3.8% across the Chicago metro area, rising from $1,373 in 2017 to $1,425. Class A properties realized a 3.5% increase on average over the year, rising from $1,876 to $1,941, while B/C properties captured a 3.1% gain over the same period, rising to a metro average of $1,109 by December 2018.

More good news: Chicago’s apartment market vacancy rate showed an uptick over the previous year, operating at 5.0%, a slight increase from 2017 as the market saw the addition of 7400 new apartment units.

Download the entire report HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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