Chicago Real Estate Market is Making a slow come back.

The news is finally positive for a change according to CNN new housing starts were up by 17.2% over last year.

1st time home buyers appear to be leading the way. Existing home sales rose 2.9% while the median sales price fell 15.4% to $170,200. It appears the decline is near the bottom, however some experts are saying that it's not over yet.

If the wave of foreclosures will stop we may see a slight return to a more sane buyers market. It is amazing the deals that are to be had out there. There is currently a ranch home in Schaumburg that was selling for $300,000 in 2007, a similar home is currently for sale as a foreclosure for only $180,000.

There are many good bargains in real estate right now if you have the guts to hold on to properties for at least 5 years. Curious about the Chicago real estate market? You may search homes Barrington IL Homes for sale online 24/7 for free.