Dave Nimick: June 2023: Interpreting the Market
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Dave Nimick: June 2023: Interpreting the Market
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In this episode, Dave discusses the current real estate market through May 2023.
Key Takeaways:
- So far, the northside neighborhoods have had a better year than much of the city.
- As a whole, supply is down about 15%, but demand is down almost twice that across all of Chicago.
- Interest rates are driving both the low supply and the lower demand.
- Supply and demand for condos is not as hard luck as for single-family homes.
"Affordability is driven by interest rates. And so if interest rates go down, then that is going to help sales, shorten market times, and sales-to-list ratios are all going to be better. All those things are going to be benefited by interest rates falling." — Dave Nimick
Connect with Dave Nimick:
Website: https://thenimickteam.com/
Email: dave@thenimickteam.com
LinkedIn: https://www.linkedin.com/in/davenimick/
Facebook: https://www.facebook.com/thenimickteam
Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty
Show notes by Podcastologist: Chelsea Taylor-Sturkie
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.