The June 2016 Chicago housing numbers are out and there are a few surprises. The year over year number of attached homes for sale has dropped 18.4%. Interest rates also continue to be very low. The lack of supply and low interest rates have not translated into higher prices. The number of homes sold increased a bit over last year but there has been a slow down from the busy market of earlier this year. 

Detached single family homes however have seen a nice price increase of around 10%. Market time has also dropped 8 days. Demand for single family homes seems to be picking up.
The national averages for mortgage rates have remained very low over the last week. While we do not see anything on the horizon that would cause rates to go up significantly we are not sure they can stay this low for long.