Archive for October 2019

Case Shiller: Chicago Area Condo Price Growth Hits 82 Month Low

Case Shiller: Chicago Area Condo Price Growth Hits 82 Month Low
Despite the fact that the Case Shiller Chicago area home price index has now registered 82 consecutive months of annual home price gains the graph below also tells a rather sad story. The rate of our home price appreciation has been falling now for several years and today’s release of the August Case Shiller home... Read more »

Chicago Foreclosure Activity: Biggest Increase In Almost 4 Years

Chicago Foreclosure Activity: Biggest Increase In Almost 4 Years
Last week ATTOM Data Solutions updated the data on their RealtyTrac Web site and also released their Q3 2019 US Foreclosure Market Report. My intentionally attention grabbing headline comes from looking at the RealtyTrac data. It is indeed accurate to say that September’s Chicago foreclosure activity had the biggest year over year gain in almost... Read more »

Hottest Chicago New Single Family Home Construction Neighborhoods 2019

Hottest Chicago New Single Family Home Construction Neighborhoods 2019
On Thursday I provided a quick overview of the new construction real estate market in Chicago which showed continued strength in this segment. Since then I stumbled on a Crain’s article where Dennis Rodkin pointed out that Chicago building permits were down significantly from a year ago so we would expect fewer new homes being... Read more »
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Chicago New Construction Real Estate Market Review

Chicago New Construction Real Estate Market Review
I’m a bit overdue with my annual analysis of Chicago’s new construction real estate market. But before I get started on showing you where the single family homes and condos/ townhomes are being built and at what price points I thought it would be a good idea to step back a bit and give you... Read more »

Chicago Remains Most Affordable Global Real Estate Market In The World

Chicago Remains Most Affordable Global Real Estate Market In The World
For many years now the Chief Investment Office of UBS has produced an annual analysis of the real estate markets in the major global cities to determine their relative levels of over or under valuation along with their bubble risk. In these reports Chicago has consistently ranked as having the cheapest global real estate market... Read more »

Glut Of Higher Priced Condos/ Townhomes Developing In Chicago

Glut Of Higher Priced Condos/ Townhomes Developing In Chicago
In my monthly update on Monday I pointed out how we continue to see a significant divergence between the inventory of attached homes vs. the inventory of detached homes. Whereas we consistently had lower attached home inventory than detached home inventory for years that pattern has recently flipped and for the month of September attached... Read more »
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Chicago Real Estate Market Update: September Least Bad Of Last 11 Months

Chicago Real Estate Market Update: September Least Bad Of Last 11 Months
If you regularly read this blog you know that the Chicago real estate market has been a bit weak this year – as measured by home sales activity. In the previous 12 months the average decline from a year ago has been 7%. That’s why it’s actually good news when the decline for September came... Read more »

Real Estate Gurus Cut Home Price Forecast...Again

Real Estate Gurus Cut Home Price Forecast...Again
Zillow and Pulsenomics released their third quarter Home Price Expectations Survey a few weeks ago and their respondents are much less optimistic than they were last time we checked in with them. Their current home price forecast is reflected in the orange line in the graph below, which shows 15.1% cumulative home price appreciation by... Read more »

Another Record Low In Chicago Foreclosure Activity

Another Record Low In Chicago Foreclosure Activity
A couple of weeks ago ATTOM Data Solutions updated their RealtyTrac foreclosure data, which I use to maintain the graph below of monthly Chicago foreclosure activity data. August hit another record low in activity since I’ve been monitoring it. There are 3 components to foreclosure activity: the number of defaults, the number of auctions, and... Read more »
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