For Week Ending November 26, 2022 Quick Facts
Data current as of December 5, 2022
The share of first-time homebuyers has fallen to an all-time low, with first-time buyers making up 26% of all buyers for the fiscal year ending June 2022, while the age of the typical first-time buyer increased to 36 years old, an all-time high, according to the National Association of REALTORS® Profile of Home Buyers and Sellers, which has been published since 1981. Higher borrowing costs and a lack of affordable housing have forced many buyers out of the market this year, and inflation and rising rents have made it more difficult to save up for a down payment.
SINGLE-FAMILY DETACHED
For the week ending November 26:
New Listings decreased 18.5% to 154
Under Contract Sales decreased 14.7% to 122
Inventory increased 7.0% to 2,805
For the month of October:
Median Sales Price increased 5.9% to $306,450
Market Time increased 16.7% to 56
Percent of Original List Price Received decreased 2.1% to 95.4%
Months Supply increased 17.2% to 3.4
SINGLE-FAMILY ATTACHED
For the week ending November 26:
New Listings decreased 25.9% to 140
Under Contract Sales decreased 48.7% to 116
Inventory decreased 26.8% to 4,066
For the month of October:
Median Sales Price decreased 4.3% to $330,000
Market Time decreased 16.3% to 67
Percent of Original List Price Received decreased 0.2% to 96.7%
Months Supply decreased 17.1% to 2.9
Current as of December 5, 2022. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2022 ShowingTime.
