Why The Outlook Is So Poor For The Chicago Area Real Estate Market

Why The Outlook Is So Poor For The Chicago Area Real Estate Market
My Tuesday blog post included the Pulsenomics outlook for 22 metro areas for 2019 and the Chicago area real estate market came in dead last. This seems to be a pattern. The Chicago area consistently comes in near the bottom of the 20 areas tracked by Case Shiller for one year home price appreciation. And... Read more »

Outlook Not Great For Chicago Area Home Prices

Outlook Not Great For Chicago Area Home Prices
About a week ago Zillow/ Pulsenomics came out with their 4th Quarter Home Price Expectations Survey, the results of which are summarized in the graph below (all graphics in this post are clickable for a larger version). The orange line represents the average forecast of the more than 100 real estate experts included in the... Read more »

Chicago Real Estate Market Update: Home Sales Dip In November

Chicago Real Estate Market Update: Home Sales Dip In November
It looks like November was another slow month for the Chicago real estate market. Sales came in 6.8% below last year, which is the second largest drop in the last 8 months. Also, if you look at the graph below you’ll see that November sales were lower than 2 years ago. When the Illinois Association... Read more »
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Update On Union Row Townhomes - That Bizarre Location

Update On Union Row Townhomes - That Bizarre Location
Back in 2008 Chicago real estate developers thought they could sell just about anything to real estate hungry consumers. And Belgravia Group, an otherwise highly respected Chicago real estate developer, decided to push the limits on that theory when they built the Union Row townhomes on 16th St., literally right next to the Dan Ryan... Read more »

Is Government Interference In The Real Estate Market Such A Bad Idea?

Is Government Interference In The Real Estate Market Such A Bad Idea?
It looks like real estate populism is alive and well in Chicago and Illinois with growing support for the government to step in and “fix” the real estate market here. You know…stop bad things like rising rents and high home prices through rent control and affordable housing requirements. Never mind that Chicago is probably already... Read more »

Case Shiller: Chicago Area Home Price Appreciation Steady While Nation Slows

Case Shiller: Chicago Area Home Price Appreciation Steady While Nation Slows
Dow Jones S&P CoreLogic just came out with the September Case Shiller home price indices for the top 20 metro areas and the nation as a whole. While year over year home price appreciation is slowing for the rest of the country the Case Shiller Chicago area index for single family homes is holding fairly... Read more »
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Chicago Foreclosure Activity Jumped Back Up In October

Chicago Foreclosure Activity Jumped Back Up In October
I’ve updated my Chicago foreclosure activity graph below with the October data from ATTOM Data Solutions’ RealtyTrac Web site which came out late last week. October broke the trend of the previous 4 months which had shown a steady decline in activity. Each of the components was up from September but keep in mind that... Read more »

I Guess Low Chicago Housing Costs Don't Matter To Amazon

I Guess Low Chicago Housing Costs Don't Matter To Amazon
While it’s been rumored for a while, Amazon finally announced their choices for their 2nd and 3rd base of operations (can you really call it a headquarters at this point?) and neither is in Chicago. Although many of us, including me, thought Chicago had a lot going for it, speculation is that Chicago’s and Illinois’... Read more »

Villa Taj: Burr Ridge's Albatross Mansion

Villa Taj: Burr Ridge's Albatross Mansion
For almost as long as we’ve been in business there has been a lonely mansion in Burr Ridge at 6501 S County Line Rd that has been looking for someone to love it. Once known as Villa Taj and later as Palace Royale, it has been on and off the market through the years, starting... Read more »
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Chicago Real Estate Market Update: Home Sales Flat To Last Year

Chicago Real Estate Market Update: Home Sales Flat To Last Year
Well, the speculation among realtors continues that the Chicago real estate market is slowing down – especially after September’s 15% decline in home sales from last year. So I was particularly interested in the October results and on Monday I even looked at October listing cancellations to see if there was any hard data to... Read more »