Chicago Foreclosure Activity Shows Further Improvement In June

Chicago Foreclosure Activity Shows Further Improvement In June
Late last week ATTOM Data Solutions released their Midyear 2018 U.S. Foreclosure Market Report which showed continued progress in the nation’s struggle with distressed properties. In the first half of the year foreclosure activity was 15% lower than in 2017. Nevertheless, some areas of the country are seeing increases and Daren Blomquist, senior vice president... Read more »

2017 Cook County And Chicago Property Tax Rates Simplified

2017 Cook County And Chicago Property Tax Rates Simplified
It’s been almost a month since the Cook County Clerk released the 2017 Cook County and Chicago property tax rates and you’ve probably already received your final 2017 tax bill. I was otherwise occupied at the time so I’m just now getting around to telling you what the numbers mean. In a nutshell it wasn’t... Read more »

Case Shiller: Chicago Area Home Price Appreciation Still Pathetic

Case Shiller: Chicago Area Home Price Appreciation Still Pathetic
Dow Jones S&P CoreLogic released the April Case Shiller home price index a couple of weeks ago while I was otherwise occupied and it remains a sad story for the Chicago area. Although we did see our 66th consecutive month of year over year gains in single family home prices and the highest gain in... Read more »
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Chicago Real Estate Market Update: June Home Sales Fall From Last Year

Chicago Real Estate Market Update: June Home Sales Fall From Last Year
After a modest increase in home sales in May the Chicago real estate market once again retreated in June, down 5.5% from last year and dropping to a lower level than even 2 years ago also. Basically, it remains a story of gradually declining sales, punctuated by occasional noise that could be misinterpreted as market... Read more »

Chicago's Foreclosure Activity Appeared To Be Bottoming Out In May

Chicago's Foreclosure Activity Appeared To Be Bottoming Out In May
I’ve been reporting in my monthly Chicago real estate market updates how the distressed percentage of home sales has been dropping steadily now for 7 years. You may have also heard recently that that percentage has now dropped to pre-mortgage crisis levels, indicating that the foreclosure nightmare is pretty much behind us. Well, that conclusion... Read more »

Household Debt, Mortgage Standards, Homeownership, And Home Equity

Household Debt, Mortgage Standards, Homeownership, And Home Equity
The 4 topics listed in the headline don’t actually have that much of a connection to each other but they were all covered in a rather interesting presentation released by the New York Federal Reserve about a month ago: Home Prices, Housing Wealth and Home Equity Extraction. In that report they provided several charts showing the... Read more »
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The Mystery Of Chicago's Condo Deconversion Boom

The Mystery Of Chicago's Condo Deconversion Boom
In case you haven’t noticed there has been a real flurry lately of buildings in Chicago deconverting from condos to apartments. According to an article on Chicago condo deconversions in Rebusiness Online “nearly 2,000 units deconverted at a combined market value of approximately $437 million since late 2016 in Chicago, according to data from CoStar... Read more »

Chicago Real Estate Market: May Home Sales Strongest In 11 Years

Chicago Real Estate Market: May Home Sales Strongest In 11 Years
The Chicago real estate market technically hit another 11 year high in home sales in May, though others might disagree with my conclusion. At this point the May numbers are still fairly preliminary so I always compare them to the preliminary numbers from previous years. On that basis sales were up 0.2% from last year... Read more »

Chicago's Shifting Population

Chicago's Shifting Population
You’ve probably heard about how Chicago has been losing population over the past few years. It’s not a huge amount. Just a few thousand per year. But clearly Chicago’s population is moving in a different direction than the rest of the country, with people leaving for greener pastures. Of course, that’s what people should do... Read more »
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Case Shiller: Chicago Area Dead Last In Home Price Appreciation

Case Shiller: Chicago Area Dead Last In Home Price Appreciation
The March Case Shiller home price index just came out from Dow Jones S&P CoreLogic and, while it’s still great news for the nation’s home prices, it’s kind of sad for the Chicago area. Compared to last year the nation’s single family home prices rose 6.5% while the 20 metro area composite rose 6.8% with... Read more »