Archive for June 2018

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:┬áHome Prices, Housing Wealth and Home Equity Extraction. In that report they provided several charts showing the... Read more »

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 »
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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 »