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Photo credit: Zillow
As you’re pretending to work this week while eating and breathing March Madness, consider this: It’s not just college hoops that are a regional affair. According to Zillow, the spring housing market is turning into a story of East vs. West. Chicago ranks No. 4 among buyers’ markets in the US, outranked by Cleveland, Philly, and Tampa. Like other Midwest metros, we’re seeing less competition, longer listings, and more room for negotiating price. Wonder why? Most are choosing to rent and many are flocking to urban cores, if you didn't get the memo (or see the cranes in River North and the West Loop). National rents were up 2.8% in January year-over-year, while Chicago saw rents up 7.1%. How's that for a boom?
