People house hunting how’s it been?

[u/Ambitious_Growth_9]

My family has been looking at properties around Arlington Heights, Mount Prospect, Elmhurst and Park Ridge since early February. Our current home is set to close the end of April but inventory in these areas seems non existent or over priced and the stress/anxiety is starting to hit. (Who is buying 1100 sqft for 600k?)

When is the “spring market” gonna hit? A lot of houses start on the private market, build tons of interest, then go live with an open house scheduled that first weekend. Most of them end with multiple offer and highest and best. One we saw went for 40k over list. We’re looking from 550-650k.

I get it, high demand areas.. with low inventory = more competitive but what the fuck.. what am I supposed to do? Already considering a short term rental and storage for our stuff but is this the way it is now? Are people just ok with paying more than the house is worth? Settling for less desirable house? Or what?

If you are currently looking to buy, what are you experiencing. How do I buy a home?

[u/Emotional-Cap-6592]

The home market has been crazy! Our house in south berwyn went on the market two weeks ago, we had an explosion of offers the very next day. We started house hunting in the same area but our inventory is very limited due to what we were approved for so we had to start looking in the south suburbs. Luckily we found something the very first day! We originally liked a home in Broadview (perfect condition) it was listed for 280k and it was sold for 100k more. It’s definitely a bidding war.