Category: News

Chicago Home Prices Finally Bounce

After 8 straight months of declines single family home prices in Chicago finally bounced up according to the May Case Shiller home price index for Chicago just released a few minutes ago. In addition, condominium prices in Chicago also continued their upward bounce that started with the April release. This could very well be the... Read more »

Realtor Association Cleans Up Their Housing Data

Today, and two days after the originally scheduled release date, the Illinois Association of Realtors announced the June home sales statistics for Chicago, the greater metro area, and all of Illinois. The reason for the delay was that the IAR was working on getting to the bottom of some pretty serious data errors that led... Read more »

Chicago Foreclosure Acitivity Remains "Low". Good News?

Once again the foreclosure activity for Chicago has been reported by RealtyTrac and it shows a continued subdued level of activity. That’s on a relative basis. Relative to 2009 and 2010, which were pretty awful. See the graph at the bottom of this post. So you would think that’s good news but RealtyTrac voices a... Read more »

Realtors Get 3 Years Of Meaningless Home Price Data Wrong

Yeah, the numbers they got wrong don’t really mean anything anyway so you really don’t need to read this post. What I’m talking about is the median home sales prices that the Illinois Association of Realtors religiously (does this mean they are going to hell now?) reports on. As I’ve pointed out before median prices... Read more »

The Summer Real Estate Market Is In The Doldrums

On July 20 the Illinois Association of Realtors is going to pretty much tell you what I’m telling you now: June home sales for Chicago were down 28.5% from last year. Given that the government mucked up the housing market last year with their lame Kcash For Shacks (home buyer tax credit) program this is... Read more »

Are Real Estate Commission Rebates On The Way Out?

On Friday Zip Realty, which up until now has been a discount real estate broker, announced that they will be eliminating their commission rebates effective July 15, 2011. Their Web site already has a statement to that effect on the bottom of their home page. According to Zip Realty the change is another part of... Read more »

What Does Chicago's Shadow Inventory Look Like?

CoreLogic released their shadow inventory numbers for April yesterday and it shows a decline in the absolute number of homes that are not yet on the MLS but are distressed – 90 days or more delinquent, in foreclosure, or already owned by banks. The numbers declined from 1.9 MM units a year ago to 1.7... Read more »

Chicago Foreclosure Activity Remains Low In May

It looks like foreclosure activity continues to putter along in Chicago at levels that are low relative to the past couple of years. This according to RealtyTrac’s May Foreclosure Market Report, which does not offer an explanation this time as to the low levels being seen across the country. I think you can only “blame”... Read more »

Chicago Condo Prices Fall To March 2000 Levels

I’m running out of ways to say that home prices are falling so I’m going to have to start recycling headlines. But what’s interesting about March’s Case Shiller home price index numbers for Chicago is that condo prices in the city continue to fall at a much faster rate than single family home prices –... Read more »

Will Chicago Home Prices Start To Rise As Sellers Hold Back?

Although I just posted on how Chicago home prices continue to fall at a very rapid rate there is a positive sign on the horizon. It would appear as though Chicago home sellers have finally had enough of falling prices and are refusing to put their homes on the market – they’ve drawn a line... Read more »