Home sales were down nationwide in June by 2.2% year over year. It isn’t like it was during the great recession. Home sales are down because there are fewer homes for sale.
In Chicago, land home sales are down by double digits. Experts are suggesting that Chicago home buyers may have lost confidence in the economy.
In St. Paul home sales are down 4.5% from last year. In the Twin Cities metro area, it is still the shortage of homes for sale that is keeping home sales down.
Some real estate trends reach from coast to coast but they vary by location because real estate is local. Most of the real estate news comes from the West coast which is another factor to consider when reading real estate news and advice.