How Homebuying is Changing
Here are other homebuying stats from January:
- Nearly one in three home purchases were paid for with all cash, up 29.7% year-over-year. This is the highest share in nine years.
- 16% of home sales used an FHA loan, up 13.3% year-over-year. This is the highest share since April 2020.
- The share of sales using VA loans climbed to 7.5%, their highest level in more than two years
Macroeconomic conditions have caused homebuyers to get creative. It’s our responsibility as agents to help our clients understand what they can and can’t afford. Our strong relationships with lenders, allows us to understand all the options that are available for our clients. We know several lenders and rely heavily on them for advice.
If you’re planning to buy or selling your house, work with a real estate professional so you have the expert insights you need to make the best possible move today and we would love to assist, please fill out the form below.
WHO IS RI PRASAD LUXURY GROUP?
We are one of Chicago’s leading providers of comprehensive real estate services. We are home to an ever-growing team of savvy & reputable local realtors who are community leaders, and customer-service-oriented staff. Whether you’re looking to find a new home, sell your home, or invest in your future; let us be your trusted real estate advisors.
“Real Estate isn’t just a profession, it is truly a obsession” - Ri Prasad