Chicago's Mortgage Choice - August 29, 2017 Real Estate Report - Fall Forward

Though the calendar states that fall comes later in September, Labor Day weekend is actually the real end of summer for most Americans. It means back to school for the kids and the end of vacation season. Congress is back in session after their August recess. Though many think that Congressmen go on vacation during recesses, most are back in their districts meeting with their staffers and gauging the temperature of their constituents. Fall starts the second homebuying season of the year. Though not as strong as the spring season, the fall is a time that people list their homes and want to be settled in a new home before the holiday season arrives. This fall we are hopeful that more are listing their homes because the market has been constrained by a listing shortage. Before we go out to enjoy the Labor Day weekend, we will have something of an economic report anomaly. Since the first day of September is on Friday, the employment report will be released early before the holiday weekend starts. Many will be on vacation this week and others will be leaving early for the holiday. Thus, the markets may be prone towards more volatility if there is a surprise in the report. If there is a surprise, it will be like saying -- Surprise, we had ___ jobs added. Have a nice holiday weekend to think about it! Keith Stewart 773-529-7000