Case Shiller: Chicago Home Prices...Good News, Bad News

Case Shiller: Chicago Home Prices...Good News, Bad News
I may as well start with the good news. This morning S&P Dow Jones Indices released the March CoreLogic Case-Shiller Chicago area index of home prices and it shows single family home and condo/ townhome prices rising over the last year by the largest percentages in 8 months. If you look closely at the graph... Read more »

Covid-19 Driving Delinquencies, Urban Emigration, And Bidding Wars?

Covid-19 Driving Delinquencies, Urban Emigration, And Bidding Wars?
It’s hard to imagine anything more disruptive than this damn pandemic. In just a few weeks it’s turned the world upside down, forcing millions into immediate and severe financial distress and creating new challenges for home sellers and buyers. Do you want to have strangers walking around inside your house? Do you want to be... Read more »

Pandemic Policies Force Chicago Foreclosure Activity To Record Low

Pandemic Policies Force Chicago Foreclosure Activity To Record Low
Add Chicago foreclosure activity to the list of things that the Covid-19 pandemic is screwing up. On the surface it might seem pretty cool that all three components of April foreclosure activity were down 80%+ from last year. However, the reality is that this is nothing more than the result of the government mandated moratorium... Read more »
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No, Chicago Housing Prices Are Not On The Rise

No, Chicago Housing Prices Are Not On The Rise
Just when I thought I’d take a break from reporting on the impact of the Covid-19 pandemic on the Chicago real estate market I run across this article: Chicago housing prices are on the rise. Here’s why. That article and headline are largely drawn from a Crain’s article that makes the case that real estate... Read more »

Week 9 With Covid-19: Worst Might Be Behind Chicago Real Estate Market

Week 9 With Covid-19: Worst Might Be Behind Chicago Real Estate Market
My sense is that the worst of the Covid-19 crisis might be behind the Chicago real estate market though it’s not totally going away any time soon. Looking back at my previous weekly updates it appears that weeks 5 and 6 might have been the bottom. Weeks 7 and 8 were harder to interpret because... Read more »

Chicago Real Estate Market Update: April Home Sales Plunge 21%

Chicago Real Estate Market Update: April Home Sales Plunge 21%
April is the Chicago real estate market’s first full month with the coronavirus stay at home order and its repercussions. And the picture is not pretty. And it will get worse before it gets better. First, April closings were down 21.0% from last April. However, you should note that the Illinois Association of Realtors will... Read more »
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Week 8: Covid-19 Still Screwing Up The Chicago Real Estate Market

Week 8: Covid-19 Still Screwing Up The Chicago Real Estate Market
I hope to post my monthly update tomorrow but I think it’s still worth continuing to look at the weekly data for a while longer to see how fast the Chicago real estate market is changing in response to the Covid-19 pandemic. It certainly fell off a cliff fast when all hell broke loose in... Read more »

How The Chicago Real Estate Market Is Dealing With Covid-19: Week 7

How The Chicago Real Estate Market Is Dealing With Covid-19: Week 7
The Chicago real estate market seems to be settling into a routine with Covid-19. Realtors are using Zoom to conduct open houses and showings, everyone is wearing masks and gloves and keeping their distance from each other, and some home buyers and sellers are just holding off for the time being. I’ve been trying to... Read more »

Case Shiller: Chicago Area Home Prices Fall Further Behind Rest Of Nation

Case Shiller: Chicago Area Home Prices Fall Further Behind Rest Of Nation
S&P Dow Jones released the February CoreLogic Case-Shiller home price indices this morning for the Chicago area and 19 other major metro areas. Of course, this reflects the real estate market pre-Covid 19 but the indices showed decent year over year home price appreciation of 4.2% for the nation as a whole. But not so... Read more »
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Before Coronavirus There Were Positive Signs In Chicago Foreclosure Activity

Before Coronavirus There Were Positive Signs In Chicago Foreclosure Activity
About a week ago ATTOM Data Solutions issued their Q1 2020 U.S. Foreclosure Market Report for the nation and updated their RealtyTrac data. Although foreclosure activity was up 42% from the previous quarter it did manage to come in 3% below Q1 of 2019. Keep in mind that for all intents and purposes March was... Read more »