?? Exciting news for Chicago homebuyers! With a median sold price of $391,000, homes are selling for about 100% of their asking price, and they’re moving fast with a median of just 10 days on the market. Let’s talk about finding your perfect home. — Mark Sotir, Realty Executives Midwest

?? Chicago's market is hot! With only 2.11 months of inventory and a rapid 60% drop over the past year, homes are selling quickly at a median price of $391,000. Ready to explore your options? DM me today. — Mark Sotir, Realty Executives Midwest

?? Dive into Chicago's vibrant market where homes are being snapped up in just 10 days on average. With a sold-to-list price ratio of about 100%, your dream home is within reach. Let's chat about your next move! — Mark Sotir, Realty Executives Midwest

?? Chicago's housing market is bustling with a 40% inventory decrease over the past month and homes selling for about 100% of their asking price. The median price is $391,000. Reach out to start your journey today! — Mark Sotir, Realty Executives Midwest

?? Looking to buy in Chicago? With a seller's market and homes going for a median price of $391,000, now's the time to act. Homes are moving in just 10 days—let's find yours! — Mark Sotir, Realty Executives Midwest

?? Thinking of selling your home in Brookfield? With just 2.82 months of inventory, it's a seller's market. Homes are moving fast, with a median of just 4 days on the market. Plus, the median sold price is $365,000. Let’s talk about getting your home sold quickly and at the right price! — Mark Sotir, Realty Executives Midwest

?? Brookfield homes are in demand! With a median sold price of $365,000 and homes selling for about 100% of their asking price, now's the time to list your property. The market is hot with homes typically selling in just 4 days. DM me to discuss your home's potential! — Mark Sotir, Realty Executives Midwest

?? Ready to make a move in Brookfield? It's a great time to sell with only 2.82 months of inventory and homes flying off the market in a median of 4 days. The median sold price is $365,000. Let's ensure you get the best deal. Contact me today! — Mark Sotir, Realty Executives Midwest

?? Brookfield's market is thriving! Homes are selling for about 100% of their asking price, with a median sold price of $365,000. With a swift 4-day median on the market, your home could be next! Let's chat about how I can help. — Mark Sotir, Realty Executives Midwest

? In Brookfield, homes are moving fast with a median of 4 days on the market. The seller's market, with 2.82 months of inventory, makes it ideal for listing. Achieve the median sold price of $365,000 and maximize your home's potential. DM me to get started! — Mark Sotir, Realty Executives Midwest

History Shows the Housing Market Always Recovers

Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market.

And if you’ve made that same choice, you’re probably frustrated things didn’t go the way you wanted. It’s hard when you feel like the market isn’t working with you. But while slowdowns can be painful in the moment, history tells us they don’t last forever.

History Repeats Itself: Proof from the Past

This isn’t the first time the housing market has experienced a slowdown. Here are some other notable times when home sales dropped significantly:

• 1980s: When mortgage rates climbed past 18%, buyers stopped cold. Sales crawled for years. But as soon as rates came down, sales surged back, and the market found its footing again.
• 2008: The Great Financial Crisis was one of the toughest housing downturns in history. Sales and prices both dropped hard. Still, sales rebounded once the economy recovered.
• 2020: During COVID, sales disappeared overnight, and many people had to put their plans on hold. Yet the recovery was faster than anyone expected, with a surge of buyers re-entering the market as soon as restrictions eased.

The lesson is clear: no matter the cause, the market always rebounds.

Today’s Situation: Where We Stand Now

Over the past few years, home sales have been sluggish. And one big reason why is affordability. Mortgage rates rose at a record-breaking pace in 2022, and home prices were climbing at the same time. That combination put buying out of reach for many people. And when demand slows, home sales do too.

The Outlook: Why Things Will Improve

But here’s the encouraging part. Forecasts show sales are expected to pick up again moving into 2026.

Last year, just about 4 million homes sold (shown in gray in the graph below). And this year is looking very similar (shown in blue). But the average of the latest forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR) show the experts believe there will be around 4.6 million home sales in 2026 (shown in green).

And a big reason behind that projection is the expectation that mortgage rates will come down a bit, making it easier for more buyers to jump back in.

That means what’s happening now is part of a cycle we’ve seen before. Every slowdown in the past has eventually given way to more activity, and this one will too.

Just like the 1980s, 2008, and 2020, today’s dip in home sales is temporary.

What That Means for You

If you’ve paused your moving plans, you did what you thought was right. Your frustration is valid. But it’s also important to remember the bigger picture. Housing slowdowns don’t last forever.

That’s where your local real estate agent comes in. Their job is to keep a close eye on the market for you. When the first signs of a rebound appear, they’ll help you spot the shift early so you can relist with confidence.

Bottom Line

If today’s housing market feels stuck, remember it’s never stayed down for good. Slowdowns end, activity returns, and people get moving again. So, let’s connect, because when the next wave of buyers shows up, you won’t want to miss it.

As activity picks up again, will you be ready to put your house back on the market, or do you need to move sooner?

Should You Still Expect a Bidding War?

If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.

While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025.

That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below):

This trend means you should face less competition when you buy. That gives you more time to make decisions and the ability to negotiate price or terms.

It Still Depends on Where You’re Buying

Of course, national trends don’t tell the full story. Local dynamics matter, a lot. This second graph uses survey data from John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM) to break things down by region to prove just how true that is. It shows, while the share of homes getting multiple offers has dropped pretty much everywhere, some areas are still seeing more offers than others:

In the Northeast, 34% of homes (roughly 1 in 3) are still receiving multiple offers. That’s more than the national average. But in Southeast, that number drops to just 6%. 

What’s behind the difference? In general, the areas still seeing bidding wars tend to have lower-than-normal inventory. That imbalance between buyers and available homes keeps pressure on prices and competition. But markets with more listings are seeing conditions cool – and that means fewer bidding wars. 

Sellers Are More Flexible Than You Might Think

Here’s another shift to show you just how much things have changed. According to a Redfin report, almost half of sellers are offering concessions, like covering their buyer’s closing costs or dropping their asking price to get their house sold.

That’s a clear sign this isn’t the same ultra-competitive market we saw a few years ago. Back then, sellers rarely compromised. And buyers often waived their inspection or appraisal to try to make their offer stand out. Now, things are different.

But again, how often this is happening is going to vary based on where you’re looking to buy. And that’s why you need a local agent’s expertise.

Bottom Line

If concerns about bidding wars have been holding you back, it may be time to take another look. Nationally, competition is down. In some markets, it’s down significantly. And with more sellers offering concessions, buyers today have more power and flexibility than they’ve had in a long time.

Want to find out what the market looks like where you’re buying? Let’s connect.