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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (55107)	10/3/2001 9:03:51 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 57584

Home sales show signs of slowing in 9 county Chicago area Time on market 3 times longer than a year ago "Market time is three times as long as last year," when the average home was on the market about 15 days, said Nancy Nagy, vice president of residential brokerage for Chicago-based Sudler & Co. and Beliard, Gordon and Partners. "We have a tremendous amount of inventory on the market, though we are still also seeing tremendous activity with first-time buyers," many of them drawn by mortgage interest rates that are below 7 percent. Nagy said the slowdown has skewed expectations on both sides of transactions. Sellers have been conditioned to expect high prices from the year's red-hot market, and many are reluctant to lower their asking prices, she said. But at the same time, buyers think the economy is in a depression, and sellers should be willing to accept less.http://www.chicagotribune.com/business/chi-0110030481oct03.story?coll=chi%2Dbusiness%2Dhed