Tag: Coronavirus

Covid-19 Week 11: Chicago Real Estate Market Better But Not Recovered

Covid-19 Week 11: Chicago Real Estate Market Better But Not Recovered
Since my last weekly update 2 weeks ago the Chicago real estate market has continued to slowly work its way back to normal. This is week 11, which is the week ending May 16, and it appears that the market for single family homes is doing much better (for sellers) than the condo market. There... Read more »

Covid-19 Driving Delinquencies, Urban Emigration, And Bidding Wars?

Covid-19 Driving Delinquencies, Urban Emigration, And Bidding Wars?
It’s hard to imagine anything more disruptive than this damn pandemic. In just a few weeks it’s turned the world upside down, forcing millions into immediate and severe financial distress and creating new challenges for home sellers and buyers. Do you want to have strangers walking around inside your house? Do you want to be... Read more »

No, Chicago Housing Prices Are Not On The Rise

No, Chicago Housing Prices Are Not On The Rise
Just when I thought I’d take a break from reporting on the impact of the Covid-19 pandemic on the Chicago real estate market I run across this article: Chicago housing prices are on the rise. Here’s why. That article and headline are largely drawn from a Crain’s article that makes the case that real estate... Read more »
Advertisement:

Week 9 With Covid-19: Worst Might Be Behind Chicago Real Estate Market

Week 9 With Covid-19: Worst Might Be Behind Chicago Real Estate Market
My sense is that the worst of the Covid-19 crisis might be behind the Chicago real estate market though it’s not totally going away any time soon. Looking back at my previous weekly updates it appears that weeks 5 and 6 might have been the bottom. Weeks 7 and 8 were harder to interpret because... 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 »

Week 8: Covid-19 Still Screwing Up The Chicago Real Estate Market

Week 8: Covid-19 Still Screwing Up The Chicago Real Estate Market
I hope to post my monthly update tomorrow but I think it’s still worth continuing to look at the weekly data for a while longer to see how fast the Chicago real estate market is changing in response to the Covid-19 pandemic. It certainly fell off a cliff fast when all hell broke loose in... Read more »
Advertisement:

How The Chicago Real Estate Market Is Dealing With Covid-19: Week 7

How The Chicago Real Estate Market Is Dealing With Covid-19: Week 7
The Chicago real estate market seems to be settling into a routine with Covid-19. Realtors are using Zoom to conduct open houses and showings, everyone is wearing masks and gloves and keeping their distance from each other, and some home buyers and sellers are just holding off for the time being. I’ve been trying to... Read more »

The Good And Bad Effects Of Coronavirus On Chicago Real Estate: Week 6

The Good And Bad Effects Of Coronavirus On Chicago Real Estate: Week 6
Yeah, you wouldn’t think there is any silver lining to this coronavirus plague for the Chicago real estate market but I can find at least one change with a positive spin. But first let’s focus on the far more noticeable negative aspects of our current predicament. We’ve been dealing with this for at least 6... Read more »

Coronavirus Impact On Chicago Real Estate Market: Week 5

Coronavirus Impact On Chicago Real Estate Market: Week 5
Last week I did a combined monthly/ weekly update which indicated that by the end of March the impact of the coronavirus contagion was already fairly severe – at least in terms of contract and listing activity. The Chicago Association of Realtors released their updated numbers for the week ending April 4 yesterday morning and... Read more »
Advertisement:

Chicago Real Estate Market In Balance Despite Coronavirus

Chicago Real Estate Market In Balance Despite Coronavirus
On Tuesday I reported on how the coronavirus is hitting the Chicago real estate market with a dramatic plunge in both contract and listing activity. What I didn’t go into at the time is whether or not this has created a buyer’s or seller’s market – i.e. how is the balance in the market? I... Read more »