Archive for September 2018

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 »

Real Estate Experts Paint Rosy Picture For Nation's Home Prices

Real Estate Experts Paint Rosy Picture For Nation's Home Prices
Last week the Zillow/ Pulsenomics 3rd Quarter Home Price Expectations Survey of over 100 real estate experts came out with their revised forecast of national home price appreciation to 2022. These people have been raising their outlook for several quarters in a row now, this time projecting 20.0% cumulative appreciation vs. 19.1% last time. 20%... Read more »