Archive for September 2017

New Chicago Real Estate Metrics Provide Additional Insight On Market

New Chicago Real Estate Metrics Provide Additional Insight On Market
Within the last week or two the local MLS has made available new information on showing activity that should provide additional insight into the health of the Chicago real estate market. I’m thinking that this might help us get a better handle on just how hot the market is. There are two separate metrics that... Read more »

Case Shiller: Chicago Area Home Prices Left In Dust Of Other Cities

Case Shiller: Chicago Area Home Prices Left In Dust Of Other Cities
Yeah, the Case Shiller Chicago area home price index for single family homes continues to show advancement from the previous year and this has been the routine now for 57 straight months. So that’s the good news. However, compared to other cities, we are not doing so well – still – as evidenced by this... Read more »

Single Family Home Inventory Plummets On Chicago's North Side

Single Family Home Inventory Plummets On Chicago's North Side
A little over a year ago I wrote about the remarkable rise of single family home inventory in the higher income neighborhoods on Chicago’s north side. Remarkable because all the rest of Chicago’s home inventory was simultaneously hitting incredible new lows, causing a housing shortage for buyers. But just as mysteriously and suddenly the supply... Read more »
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Chicago Foreclosure Activity Ticked Up In August

Chicago Foreclosure Activity Ticked Up In August
RealtyTrac did not release a Foreclosure Market Report for August. I believe they’re only doing it once per quarter now that the story doesn’t change that much from one month to the next. Nevertheless, they updated their data for Chicago, which I have incorporated in my Chicago foreclosure activity graph below. Total foreclosure activity in... Read more »

How Much For Sale By Owner Really Saves/ Costs You

How Much For Sale By Owner Really Saves/ Costs You
For years realtors have been making preposterous claims about the exorbitant losses that will surely be incurred by homeowners that decide to sell their homes For Sale By Owner. The most recent post to this effect that I easily found was this November 9, 2015 blog post on the National Association of Realtors Web site:... Read more »

Chicago Housing Costs Should Be Big Factor In Amazon Headquarters Search

Chicago Housing Costs Should Be Big Factor In Amazon Headquarters Search
Unless you live under a rock you know that last week Amazon announced that it needs to invest $5 B in a second headquarters somewhere in North America to house 50,000 employees in approximately 8 MM square feet of office space. If you haven’t already, let that sink in for a second. No wonder that... Read more »
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Chicago Real Estate Market Update: Market Strong Despite Lower Sales

Chicago Real Estate Market Update: Market Strong Despite Lower Sales
Throughout much of the year Chicago home sales have been sputtering along – except for January and March, which were blowout months. Unfortunately, August was no exception with a 1.9% decline from last year – and that was after July came in with a 3.4% decline. Nevertheless, I maintain that the Chicago real estate market... Read more »

Realtor Support For National Flood Insurance Program May Be Misguided

Realtor Support For National Flood Insurance Program May Be Misguided
Recently the Illinois Association of Realtors sent out a Call For Action in an effort to gain support for reforming the National Flood Insurance Program. The National or Illinois associations periodically send out these Call For Actions regarding some political initiative for which they want realtors to contact their representatives for support. Often these initiatives... Read more »