Category: Market conditions

Why The Outlook Is So Poor For The Chicago Area Real Estate Market

Why The Outlook Is So Poor For The Chicago Area Real Estate Market
My Tuesday blog post included the Pulsenomics outlook for 22 metro areas for 2019 and the Chicago area real estate market came in dead last. This seems to be a pattern. The Chicago area consistently comes in near the bottom of the 20 areas tracked by Case Shiller for one year home price appreciation. And... Read more »

Outlook Not Great For Chicago Area Home Prices

Outlook Not Great For Chicago Area Home Prices
About a week ago Zillow/ Pulsenomics came out with their 4th Quarter Home Price Expectations Survey, the results of which are summarized in the graph below (all graphics in this post are clickable for a larger version). The orange line represents the average forecast of the more than 100 real estate experts included in the... Read more »

Chicago Real Estate Market Update: Home Sales Dip In November

Chicago Real Estate Market Update: Home Sales Dip In November
It looks like November was another slow month for the Chicago real estate market. Sales came in 6.8% below last year, which is the second largest drop in the last 8 months. Also, if you look at the graph below you’ll see that November sales were lower than 2 years ago. When the Illinois Association... Read more »
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Case Shiller: Chicago Area Home Price Appreciation Steady While Nation Slows

Case Shiller: Chicago Area Home Price Appreciation Steady While Nation Slows
Dow Jones S&P CoreLogic just came out with the September Case Shiller home price indices for the top 20 metro areas and the nation as a whole. While year over year home price appreciation is slowing for the rest of the country the Case Shiller Chicago area index for single family homes is holding fairly... Read more »

Chicago Foreclosure Activity Jumped Back Up In October

Chicago Foreclosure Activity Jumped Back Up In October
I’ve updated my Chicago foreclosure activity graph below with the October data from ATTOM Data Solutions’ RealtyTrac Web site which came out late last week. October broke the trend of the previous 4 months which had shown a steady decline in activity. Each of the components was up from September but keep in mind that... Read more »

Chicago Real Estate Market Update: Home Sales Flat To Last Year

Chicago Real Estate Market Update: Home Sales Flat To Last Year
Well, the speculation among realtors continues that the Chicago real estate market is slowing down – especially after September’s 15% decline in home sales from last year. So I was particularly interested in the October results and on Monday I even looked at October listing cancellations to see if there was any hard data to... Read more »
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Not Much Evidence Of A Slowing Chicago Real Estate Market

Not Much Evidence Of A Slowing Chicago Real Estate Market
As I’ve mentioned before there has been a lot of buzz in the Chicago real estate industry over the last few months about a slowing market. However, I’ve been unable to see it in the data. Months of supply, market times, and sale/ list price ratios have not been showing any signs of softening. On... Read more »

Case Shiller: Chicago Area Home Price Appreciation Slows But Rises To 3rd From Last Place

Case Shiller: Chicago Area Home Price Appreciation Slows But Rises To 3rd From Last Place
This morning’s release by Dow Jones S&P CoreLogic of the Case Shiller home price index for August showed that the nation’s single family home prices slowed down their annual rate of appreciation and fell below 6% for the first time in 12 months. At the national level the appreciation rate fell from 6.0% last month... Read more »

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 »
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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 »