IAR’s Loretta Alonzo provided insight on the state of the housing market in the Chicago area for WTTW’s Chicago Tonight on Wednesday.
Alonzo, CRB, GRI, noted the sharp increases in sales and prices over the past year, and that agents are finding tight inventories which put them in multiple-offer situations.
Her appearance came on the eve of IAR’s housing report, which found home sales in the state increased 17 percent year over year, and median prices surged 13.6 percent.
“Chicago is doing very well,” Alonzo said. “We were one of the last ones that went down in the recession, so we were one of the last ones coming out of it. We were a little behind coming out when the bubble burst, but we are doing fine now.”