There were 1.13 million homes for sale at the end of September, down more than 8% from a year ago.
Adding to higher mortgage rates, the median price of a home sold in September was $394,300, up 2.8% year over year.
This is the slowest sales pace since October 2010, during the Great Recession, when the market was in the midst of a foreclosure crisis. As a comparison, just two years ago, when mortgage rates hovered around 3%, home sales were running at a 6.6 million pace. The average rate on the 30-year fixed today is
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Inventory is now at a 3.4-month supply, which is slightly better than last year, but only because sales have dropped so much. Supply is based on the current sales pace. Nearly 20% of workers have changed their name on a resume because of discrimination concerns, says new report
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