Tag: Chicago monthly real estate market update

Chicago Real Estate Market Poised For Strong September

Chicago Real Estate Market Poised For Strong September
Well, August wasn’t too bad for the Chicago real estate market. Home sales were up 10.6% from last year but, frankly, I expected more, given that July contract activity was so strong. You can see where August fell relative to history in the graph below which has all previous Augusts flagged in red. This is... Read more »

July Chicago Real Estate Market Shows Strong Signs Of Comeback

July Chicago Real Estate Market Shows Strong Signs Of Comeback
As expected the Chicago real estate market began to make up for a lot of lost time in July. Not only did sales (closings) come back to more normal levels but the stage is set for even stronger growth in August. The graph below shows Chicago monthly home sales going back to 1997 with all... Read more »

June Chicago Real Estate Market: Home Sales Still Suffering From Covid-19

June Chicago Real Estate Market: Home Sales Still Suffering From Covid-19
The good news is that the Chicago real estate market is getting less bad as people learn to just live with Covid-19 all around us. Last month I pointed out that, with significantly better contract activity, we would see improved closings in June. Well, we did, but not as dramatically as I had hoped. June... Read more »
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May Chicago Real Estate Market: As Expected, Worst Ever Sales Decline

May Chicago Real Estate Market: As Expected, Worst Ever Sales Decline
When I did my last monthly update on the Chicago real estate market I told you it was going to get worse because April closings benefited from contract activity prior to the coronavirus hibernation. With April contract activity down 54.4% from the year before it was inevitable that May closings were going to suck. And... Read more »

Chicago Real Estate Market Update: April Home Sales Plunge 21%

Chicago Real Estate Market Update: April Home Sales Plunge 21%
April is the Chicago real estate market’s first full month with the coronavirus stay at home order and its repercussions. And the picture is not pretty. And it will get worse before it gets better. First, April closings were down 21.0% from last April. However, you should note that the Illinois Association of Realtors will... Read more »

Chicago Real Estate Market Update: March Contracts Fell Off A Cliff

Chicago Real Estate Market Update: March Contracts Fell Off A Cliff
I’ve been issuing weekly updates on the impact of the coronavirus nightmare on the Chicago real estate market prior to today but I’m now due for my monthly update so I’ll just weave the two together. March is the first month where we can start to see how these unusual circumstances are affecting the market.... Read more »
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Chicago Real Estate Market Update: February Was Better Than It Looks

Chicago Real Estate Market Update: February Was Better Than It Looks
So, in a couple of weeks you’re going to hear the Illinois Association of Realtors say that the Chicago real estate market experienced a little increase in home sales activity in February compared to last year. 1.5% is my guess as to what they are going to announce. Of course, my own calculated percentage is... Read more »

Chicago Real Estate Market Update: Home Sales May Be Turning Corner

Chicago Real Estate Market Update: Home Sales May Be Turning Corner
A lot of people gauge the health of the Chicago real estate market in terms of home sales which is why I always start off my monthly update with that metric. The graph below shows the monthly sales numbers going back to 1997 with all the January numbers flagged in red and a light blue... Read more »

Chicago Real Estate Market: December Sales Spike Actually Disappointing

Chicago Real Estate Market: December Sales Spike Actually Disappointing
First of all, December home sales in Chicago actually spiked 9.2% above last year and, technically, that is the biggest percentage gain in 33 months. But check out the graph below where I have all the monthly home sales going back to 1997 with all the Decembers flagged in red and a light blue moving... Read more »
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Chicago Real Estate Market: November Sales Fall 8% From Last Year

Chicago Real Estate Market: November Sales Fall 8% From Last Year
Well, it looks like the Chicago real estate market had another slow month of home sales – an 8.1% decline from last year, which is the biggest decline in the last 5 months. We’ve been getting these larger declines every 4 – 6 months, punctuated by a few months of < 5% drops. In fact,... Read more »