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Big Increase in New Home Sales in Chicago Suburbs

Good news for Chicagoland real estate!

Spurred on by very low mortgage rates, new homes sales jumped in the second quarter in suburban Chicago.

Interestingly, the increase was partly fueled by the desire, for some people, to move away from more densely populated areas because of Covid-19.

“In this environment of very low interest rates, we saw people who might have moved out of their apartment building in a few years saying, ‘Let’s make this move now,’ ” said Erik Doersching, executive vice president of Tracy Cross & Associates, a Schaumburg-based consultant to the homebuilding industry.

Mortgage rates in July dropped below 3% for the first time since 1971 when the federal government began tracking them.

Reports say that 1,235 new homes were sold, up nearly 15% from the same period a year ago.

Read on HERE

Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.

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