Tag: Chicago monthly real estate market update

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 »

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 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 »
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Chicago Real Estate Market Update: July Home Sales Beat Last Year

Chicago Real Estate Market Update: July Home Sales Beat Last Year
The Chicago real estate market just had it’s largest annual percentage home sales increase in 16 months. July was up 4.1% from last year but I’m really not impressed. The graph below shows monthly Chicago home sales going back to January 1997 with all July points flagged in red and a light blue 12 month... Read more »

Chicago Real Estate Market Update: June Home Sales Fall From Last Year

Chicago Real Estate Market Update: June Home Sales Fall From Last Year
After a modest increase in home sales in May the Chicago real estate market once again retreated in June, down 5.5% from last year and dropping to a lower level than even 2 years ago also. Basically, it remains a story of gradually declining sales, punctuated by occasional noise that could be misinterpreted as market... Read more »

Chicago Real Estate Market: May Home Sales Strongest In 11 Years

Chicago Real Estate Market: May Home Sales Strongest In 11 Years
The Chicago real estate market technically hit another 11 year high in home sales in May, though others might disagree with my conclusion. At this point the May numbers are still fairly preliminary so I always compare them to the preliminary numbers from previous years. On that basis sales were up 0.2% from last year... Read more »
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Chicago Real Estate Market: Strongest April Sales In 11 Years

Chicago Real Estate Market: Strongest April Sales In 11 Years
You’re not going to see that headline about the Chicago real estate market anywhere else this month. If you will recall, last month I wrote about how Chicago had really weak home sales for March compared to the previous year. However, I also pointed out that, with the exception of that previous March, this March... Read more »

Chicago Real Estate Market: Worst Home Sales Decline In 20 Months

Chicago Real Estate Market: Worst Home Sales Decline In 20 Months
The Chicago real estate market continued to stall in March with the worst sales decline in 20 months. Home sales fell by 7.6%, just a smidgen worse than the 7.5% decline we saw in January. This was fully anticipated, given the huge decline in contract activity that we saw in February. However, it’s not as... Read more »

Chicago Real Estate Market: Huge Decline In February Contract Activity

Chicago Real Estate Market: Huge Decline In February Contract Activity
If you simply look at how many home sales closed last month the Chicago real estate market looks reasonably healthy. Closings were down slightly from last year but only by 1.0%. Of course, the Illinois Association of Realtors will report that as a 2.6% decline because of a flaw in their methodology. The graph below... Read more »
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Chicago Real Estate Market: January Worst Sales Decline In 18 Months

Chicago Real Estate Market: January Worst Sales Decline In 18 Months
I don’t think it was a coincidence that the Chicago real estate market had its worst year over year sales decline in 18 months in January right after having its strongest growth in 9 months during December. As I’ll explain in more detail below, and I alluded to this in last month’s post, I believe... Read more »