Should I wait to buy a home in Chicago?

It's hard to say if waiting to buy a home in Chicago is the best move, as prices are still going up, but there are fewer homes to choose from. The median listing price in Chicago is currently $392,500, which is slightly down from the previous month but still higher than last year. Compared to last year, the median listing price has gone up by 4.1%. This means that homes are generally more expensive now than they were at the same time last year. However, the price did drop a little last month, by 0.5%. There are fewer homes available right now. The number of active listings is 14,609, which is 7.0% lower than last year. The number of new homes coming on the market is also down by 5.5% over the past year. Homes are selling a bit faster than last year, spending 35 days on the market, which is 2.8% less time. Fewer sellers are also dropping their prices, with 14.1% doing so, down 1.4% from last year. This suggests that demand is still pretty strong even with fewer homes for sale. If you're considering buying, weigh these factors carefully, keeping in mind that prices have been increasing overall.