The housing market is taking off again–finally! — around the country.

housing recovery

This is obviously great news when you’re selling a home, but what about when you’re looking to purchase a new property? What’s the good news in a market where competition for prized properties will increase, home prices are rising and mortgage rates might too? We predict there will be more properties to choose from in an early Spring market in Chicago.

The big question this year was whether home prices had finally hit bottom. We now know the answer is a resounding “Yes”: every major index.

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.