S R Fletcher Real Estate Broker

Chicago Shoppers Browse Distant New Homes
Lately, I’ve noticed more Chicago buyers browsing new homes far outside our metro—an interesting shift from the usual local search patterns. Chicago’s been highlighted as one of the major cities where people are looking beyond familiar neighborhoods, searching for newly built homes in other markets. While we don’t have specific numbers on how many are making this leap, it’s a sign that many are open to fresh possibilities and new lifestyles. As someone who’s spent nearly a decade helping families navigate Chicago and the South Suburbs, I understand the pull of home, but also the excitement of a new chapter. It’s always about finding the right fit—whether that’s in a classic Chicago block or somewhere entirely new.

House Prices Jump in Illinois Amid Slow Pace of New Construction
If you’ve been following the Chicago and South Suburbs market, you might have noticed: median home prices in Chicago just climbed 13.3%, now hitting $425,000. As someone who’s spent nearly a decade helping local families search for that perfect spot, I see firsthand how limited housing supply shapes the experience. New construction simply isn’t keeping up—it would need to triple to meet current demand. The challenges? Outdated building codes, permitting slowdowns, and infrastructure hurdles. There’s talk of reforms to encourage more affordable, middle housing, but for now, every buyer and seller is navigating an environment where options are tight and timing matters. Having a guide who knows these neighborhoods inside and out makes all the difference.

Cook County Tax Bills Rise for Most Properties
There’s big news coming for Cook County property owners: property tax bills are set to arrive on September 1st, and for most homeowners and business operators, those bills will be higher this year. The county is mailing out 1.8 million tax bills after another delay, impacting about 1.3 million residences—including many right here in the Chicago and South Suburbs neighborhoods I know so well. It’s not just homeowners feeling the effects; nearly 100,000 local businesses will see increases too, as these delayed bills finally land in mailboxes. As someone who’s spent years helping families settle into these communities, I know how important it is to stay ahead of these changes. Sept. 1 is a date to keep in mind—understanding what’s coming lets you focus on what matters most: making your home and future plans work for you.

Cheers!

US Existing Home Sales Edge Up
I’ve always said that a home sale is about more than just numbers—it’s about the movement and momentum in our lives. This Early-Q3 snapshot shows existing-home sales across the US slipped 1.7% month-over-month, but still managed a 0.7% yearly increase. What’s behind those numbers? Completed transactions are holding steady, just above last summer’s pace, which means there’s still opportunity for both buyers and sellers to find their fit.

Median prices reached $434,100, marking 37 straight months of yearly gains. For many homeowners, that means added equity—a detail I always encourage my clients to keep an eye on. Inventory finished at 1.54 million homes, down 1.9% from the month before and 0.6% from last year. In neighborhoods like ours, that’s a reminder to check listings regularly and move quickly when something feels right.

Affordability is showing signs of improvement nationwide, even as prices climb—a positive for buyers ready to act when the right value, timing, and options come together. Mortgage rates are holding in the high-6% range for a 30-year fixed loan, and any easing there could make a real difference for families eyeing that next move. I always keep my clients informed on the trends that matter—because the right information helps you start your next chapter with confidence.

USA: Why ‘Price Stability’ Is a Myth
We hear a lot about 'price stability' in the news, but living and working in Chicago’s neighborhoods has shown me firsthand how prices rarely move in lockstep. When one thing gets more expensive—think hotel rooms, event tickets, or college tuition—something else, like technology, often becomes more affordable. Our choices as consumers shift, and so do the prices around us.

It’s a reminder that no one, not even the central bank, can guarantee true price stability. There are just too many moving parts: global supply chains, local trends, and the infinite ways people spend their money. In real estate, I see this every season. As the value of a dollar changes, so do investment decisions—and that can mean new opportunities for some, and tighter budgets for others.

The bottom line? Shifting prices don’t always spell trouble. Sometimes, they point to progress, with new technology freeing up resources while more limited experiences become even more sought after. Navigating these ups and downs is all part of helping families find their place in a changing market.