CHICAGO—One of the coldest Aprils in the region's recordedhistory did not stop the housing market from heating up a bit. Homesales in the seven-county metropolitan Chicago grew 3.2% over April2017, according to a RE/MAX analysis, and thatfollows declines of -6.4% in the first quarter of this year and-8.7% in March alone. Low inventory remains a concern, but companyofficials say they see at least a little light at the end of thattunnel.
Home sales for the metro area totaled 10,404 units in April, upfrom 10,078 a year earlier, RE/MAX says. It was the highest levelof April sales recorded since 2006. The median sales price gained2.9% to $252,000, and the average time a home sold in April spenton the market before going under contract declined to 80 days from90 in April 2017.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
