Chicago Foreclosure Activity Hit New Low In September

Chicago Foreclosure Activity Hit New Low In September
ATTOM Data Solutions released their 3rd Quarter Foreclosure Market Report this morning and it shows that foreclosure activity for the nation was down 8% from a year ago. That’s a fairly modest decrease but that’s still a nearly 13 year low and 36% below the pre-recession average. Daren Blomquist, senior vice president at ATTOM Data... Read more »

Chicago Real Estate Market Update: Lowest Home Sales In 6 Years

Chicago Real Estate Market Update: Lowest Home Sales In 6 Years
Well, months of low contract activity have finally caught up with the Chicago real estate market. We had been dodging this day of reckoning for a while by drawing down the backlog of pending home sales but that debt eventually had to be paid back and apparently September was the month for that. Home sales... Read more »

Chicago's Highest Appreciating Neighborhoods Will Surprise You

Chicago's Highest Appreciating Neighborhoods Will Surprise You
We know that Chicago metro area home prices have not been advancing much in the last year and a half. As I’ve pointed out in my monthly update on the Chicago Case Shiller home price index, we are seriously lagging the rest of the country, behind 18 of the other 19 metro areas that they... Read more »
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Chicago Foreclosures: Shadow Inventory Hits New Low

Chicago Foreclosures: Shadow Inventory Hits New Low
Attom Data Solutions/ RealtyTrac released their August Foreclosure Activity Report on Tuesday. Chicago foreclosure activity has been trending downward for quite a while and is near an all time low since I’ve been keeping track in the graph below. In fact, it was down 18.7% from a year ago. However, it does seem to have... Read more »

Case Shiller: Chicago Area Home Price Appreciation Slows Further

Case Shiller: Chicago Area Home Price Appreciation Slows Further
It’s becoming increasingly difficult to come up with different ways of saying that Chicago area home prices are just not appreciating very fast. This morning’s release of the July Case Shiller home price indices by Dow Jones S&P CoreLogic showed a slowing in the nation’s home price appreciation and the Case Shiller Chicago home price... Read more »

Chicago Area Home Price Trends From 1970 - 2018

Chicago Area Home Price Trends From 1970 - 2018
As I mentioned a while ago, thanks to someone on Cribchatter I recently discovered an old paper written by Karl Case and Robert Shiller (as in Case Shiller home price index) which contained their index of Chicago area home prices going back to early 1970. I was able to splice that time series together with... Read more »
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Chicago's Hottest Neighborhoods For New Single Family Home Construction In 2018

Chicago's Hottest Neighborhoods For New Single Family Home Construction In 2018
Last week I reported on Chicago’s Hottest Neighborhoods For New Condo Construction In 2018. As a follow up to that post I’m now taking a look at single family home new construction. Last year there were 504 new homes with activity in a 12 month period. This year is only slightly lower at 485 homes... Read more »

This Sure Looks Like An Attempt To Collude On Real Estate Commissions To Me

This Sure Looks Like An Attempt To Collude On Real Estate Commissions To Me
Inman is a real estate industry news site and about 6 weeks ago they ran an interesting story about a panel discussion in which a “Brokerage CEO slams Purplebricks over low-commission model“. The CEO in the spotlight was Steve Games, the CEO of Pacific Sotheby’s International Realty, and the story was about how he went... Read more »

Chicago's Hottest Neighborhoods For New Condo Construction In 2018

Chicago's Hottest Neighborhoods For New Condo Construction In 2018
Activity has actually picked up significantly since last year’s look at Chicago’s new condo construction . Last year’s analysis identified a total of 1510 new condos/ townhomes that were either sold, under contract, or on the market in the preceding 12 month period. This year I count 1708, which should be no surprise given all... Read more »
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Chicago Real Estate Market Update: Disappointing August Home Sales

Chicago Real Estate Market Update: Disappointing August Home Sales
Looking at just home sales you could conclude that the Chicago real estate market is stuck in the mud. Take a look at the graph below, which shows monthly home sales going back to January 1997 with all the August points flagged in red. You’ll see that August’s home sales came in lower than the... Read more »