Category: Market conditions

Chicago Foreclosure Activity Hit New Low In September

Chicago Foreclosure Activity Hit New Low In September
ATTOM Data Solutions released their 3rd Quarter Foreclosure Market Report this morning and it shows that foreclosure activity for the nation was down 8% from a year ago. That’s a fairly modest decrease but that’s still a nearly 13 year low and 36% below the pre-recession average. Daren Blomquist, senior vice president at ATTOM Data... Read more »

Chicago Real Estate Market Update: Lowest Home Sales In 6 Years

Chicago Real Estate Market Update: Lowest Home Sales In 6 Years
Well, months of low contract activity have finally caught up with the Chicago real estate market. We had been dodging this day of reckoning for a while by drawing down the backlog of pending home sales but that debt eventually had to be paid back and apparently September was the month for that. Home sales... Read more »

Chicago's Highest Appreciating Neighborhoods Will Surprise You

Chicago's Highest Appreciating Neighborhoods Will Surprise You
We know that Chicago metro area home prices have not been advancing much in the last year and a half. As I’ve pointed out in my monthly update on the Chicago Case Shiller home price index, we are seriously lagging the rest of the country, behind 18 of the other 19 metro areas that they... Read more »
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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 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 »

Case Shiller: Chicago Home Price Appreciation Still Sucks

Case Shiller: Chicago Home Price Appreciation Still Sucks
Despite a real estate market with really short market times that leaves homebuyers scrambling for opportunities the Chicago area’s home prices continue to struggle to rise in line with the rest of the nation. This major head scratcher is evident from the latest Case Shiller Chicago area home price index for single family homes which... Read more »
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Chicago Foreclosure Activity Didn't Show Much Improvement In July

Chicago Foreclosure Activity Didn't Show Much Improvement In July
On Tuesday ATTOM Data Solutions released their July Foreclosure Market Report, pointing out that foreclosure starts for the nation as a whole increased from the previous year for the first time, following 36 consecutive months of decreases. This increase was seen in 44% of the metro areas that they analyze. They provided this heat map... Read more »