Barbara Marriott reports that though existing home sales rose in the U.S. 2.9 percent in February, much of that gain comes from moderate size cities that are growing in employment and population.

Median home prices in Chicago are going up slightly on average, she says, and there has been a noticeable increase in activity in Chicago's market in the past few weeks.

Marriott says many of her fellow Realtors are taking this as a sign the Real Estate market has bottomed out and primed to recover.

But for the time being she predicts the Chicago market will remain steady as the huge inventory of foreclosed properties is absorbed, and a notable gain in existing home sales is expected by the second half of this year.

So what should potential buyers think about this market?

Marriott says now is the time to buy, as prices are at their lowest and interest rates continue to be historically low.

And the Chicago market, which has traditionally been stabler than either the east or west coasts, continues to be a good place to invest in real estate.

For more information, contact Barbara Marriott at:
http://barbaraschicagorealty.com.

Published: April 16, 2008

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