February 2023 Newsletter


Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years

The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.

According to the latest Monthly Housing Market Trends Report from realtor.com:

“There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”

The graph below shows how today’s inventory of homes for sale compares to recent years:

What Does This Mean for You?

Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is welcome activity for the spring market, especially if you’re thinking of selling your house.

With a renewed interest in buying a home for many, the New York Times (NYT) reports:

“Home buyers are edging back into the market after being sidelined last year . . .”

So, if you want to take advantage of a sweet spot in the market, this spring could be your shot.

Bottom Line

The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now’s the time for us to connect and get ready for you to make a move this spring.


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.




…at Keller Williams Success Realty last month.

In our area this month…

We are in the middle of another market shift, but don’t forget that shifts in the market are normal.

This is still a seller's market, but one that's shifting back to balance with the buy side, especially in Barrington, IL.

Things to remember:

- The right single offer can be better than a multiple offer situation

- Pricing your home appropriately will bring more buyer attention to your home (and ultimately a better sale)


Soup Joumou

Ingredients

Epis

  • 1 cup chopped scallions (from 5 medium scallions)

  • 1/2 cup fresh flat-leaf parsley leaves, chopped

  • 1/3 cup chopped green bell pepper

  • 1/3 cup chopped red bell pepper

  • 1/3 cup chopped yellow bell pepper

  • 1/4 cup chopped yellow onion

  • 1/2 teaspoon fresh thyme leaves (from 1 to 2 medium sprigs)

  • 2 tablespoons olive oil or canola oil

  • 6 garlic cloves, chopped, about 2 1/2 tablespoons

Soup

  • 2 pounds beef stew meat (mixture of chuck and beef stew meat), cut into 1- to 2-inch pieces 

  • 1 cup white vinegar

  • 1 medium lime, halved

  • 1 cup Epis

  • 2 tablespoons olive oil

  • 1 tablespoon seasoned salt

  • 3 tablespoons fresh lime juice (from 2 medium limes), divided 

  • 5 1/3 cups cubed (1- to 1 1/2-inch pieces) calabaza squash or butternut squash (1 medium)

  • 7 cups water, divided, plus more as needed

  • 4 1/2 cups cubed (3/4- to 1-inch pieces) peeled russet potatoes (from 2 large potatoes)

  • 2 1/2 cups sliced (1/4- to 1/2-inch thick) green cabbage

    (from 1 [2-lb.] head cabbage) 

  • 1 1/2 cups halved and sliced (1/4- to 1/2-inch thick) yellow onion (from 1 medium onion)

  • 1 1/3 cups finely chopped leek (white and light green parts only) (from 1 medium leek)

  • 1 1/3 cups peeled finely chopped turnips (from 2 small turnips)

  • 2/3 cup sliced (1/4- to 1/2-inch thick) carrots (from 2 medium carrots)

  • 1/2 cup roughly chopped celery (from 1 medium celery stalk)

  • 1 (2-inch) fresh green Scotch bonnet chile or habanero chile

  • 1 tablespoon kosher salt

  • 2 teaspoons garlic powder

  • 2 teaspoons onion powder

  • 1/2 teaspoon black pepper

  • 1/8 teaspoon cayenne pepper

  • 6 whole cloves

  • 1 (11 3/4-inch) parsley sprig

  • 1 (5 1/2-inch) thyme sprig

  • 1 cup uncooked dried rigatoni pasta (2 1/2 ounces) 

  • 1 tablespoon unsalted butterInstructions

Directions

  1. Place beef and vinegar in a large bowl. Squeeze lime halves over beef mixture; rub meat with inside of lime halves. Rinse with cold water, and drain; return meat to bowl.

  2. Add Epis, oil, seasoned salt, and 2 tablespoons of the lime juice to meat in bowl; stir until well coated. Cover and marinate in refrigerator at least 30 minutes or up to 12 hours.

  3. When meat is nearly done marinating, fill a 7- to 8-quart pot with water, and bring to a boil over medium; add squash, and cook over medium, stirring occasionally, until squash is fork tender, 10 to 12 minutes.

  4. Drain cooked squash. Transfer to a food processor or high-speed blender; process until smooth, 1 to 2 minutes, stopping to scrape down sides of bowl as needed. (Add additional water, 1 tablespoon at a time, only if needed to help squash blend.) Set aside.

  5. Add beef mixture and 2 cups of the water to pot; bring to a boil over medium. Reduce heat to medium-low; cover and simmer, stirring occasionally, until meat is just tender, 1 hour, 30 minutes to 1 hour, 45 minutes, adding up to 1 cup additional water, if needed, to keep meat covered. Adjust heat as needed to maintain a simmer.

  6. Stir squash puree into beef mixture in pot. Stir in potatoes, cabbage, onion, leek, turnips, carrots, celery, chile, kosher salt, garlic powder, onion powder, black pepper, cayenne pepper, cloves, parsley sprig, thyme sprig, and remaining 5 cups water. Increase heat to medium, and simmer, uncovered and stirring occasionally, until vegetables are just tender, 10 to 15 minutes; adjust heat as needed to maintain a simmer. Add rigatoni, butter, and remaining 1 tablespoon lime juice. Reduce heat to low; simmer, stirring occasionally, until pasta is cooked, 10 to 12 minutes. Adjust thickness of soup as desired, by adding more liquid for a brothier texture, or continuing to simmer it so it thickens.

    Serves 10.