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Chicago Home Sales Plunge in January


Thanks to waning consumer confidence caused by the 35-day government shutdown, the Chicago-area housing market took a major swan dive in January.

According to an article in Crain’s, 1,164 homes were sold in the city of Chicago, a drop of 19.4% from January 2018 and the biggest in sales since June 2011. The decline was even steeper in the nine-county metropolitan area. But it wasn’t just Chicago that felt the hit.

"Consumer confidence throughout the U.S. declined in December and January, due to the government shutdown, the slowing rate of job growth and overall uncertainty about the direction of the economy,” says Tommy Choi, president of the Chicago Association of Realtors.

In addition, the median home price in the city fell in January for the second straight month, down 4.9%.

Read on 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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