Tag: distressed properties

7th Straight Month Of Double Digit Home Sale Gains For Chicago

7th Straight Month Of Double Digit Home Sale Gains For Chicago
People who read this blog don’t have to wait until the Illinois Association of Realtors’ September sales release on October 19 to find out what I’m going to tell you right now. Chicago home sales for September were up 23.2% over last year, which is the 7th straight month of double digit year over year... Read more »

Chicago Home Sales Show Largest Gain In 2 Years

Chicago Home Sales Show Largest Gain In 2 Years
In 2 weeks the Illinois Association of Realtors will report that the Chicago housing market showed the highest sales growth in 2 years during July, with sales up 26.3% over the 2011 level. The only reason it wasn’t the best in more than 2 years is that in 2010 there was the government’s Cash For... Read more »

Chicago January Home Sales Only Slightly Up From Last Year

We’ve got the Illinois Association of Realtors January home sale report for Chicago coming up in a couple of weeks. What it will show is that January home sales were up a paltry 4.9% from January of last year – similar to the change we saw for December Chicago home sales. To put this number... Read more »

After All These Years Shadow Home Inventory Is Still Huge

A little more than a week ago CoreLogic released their shadow home inventory report for October at the national level which shows that the shadow inventory, while down from last year, is basically unchanged from the last report for July. It is also at the same level it was in January 2009. CoreLogic’s graph below... Read more »

November Home Sales Finally Show Meaningful Improvement In Chicago

When the Illinois Association of Realtors releases the November home sales numbers for Chicago and Illinois in two weeks they will once again show a significant increase in closings over last year – this time approximately 20.3% higher. However, as I’ve pointed out on numerous occasions, it’s not really appropriate to compare 2011 sales to... Read more »

Don't Let The August Home Sales Numbers Fool You

In about 2 weeks the Illinois Association of Realtors (IAR) will be releasing their August home sales figures for Chicago with much fanfare. The reason for the rejoicing: August home sales in Chicago will be up around 20.4%. over last year. But let’s put that in perspective. If you will recall 2010 was not a... Read more »

July Chicago Home Sales The Lowest In 14 Years...Sorta

Next week, on Thursday, the Illinois Association of Realtors is going to release their sales statistics for the month of July, unless of course there is another delay associated with their famous goof. With pretty high certainty the July home sales numbers for Chicago are going to be about 4.6% higher than last July. But... Read more »

2 Million Homeowners Underwater By More Than 50%

Yesterday I posted on the huge shadow inventory of homes in Chicago and the nation. However, CoreLogic also reported on an even bigger threat to the recovery of the housing market in the form of homeowners who are seriously underwater on their mortgages. The number they reported is staggering: In addition to the current shadow... 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 »

"With All The Foreclosures And Short Sales Why Can't I Find A Deal?"

You hear this question all the time. It’s a common refrain on Crib Chatter as well. Many people looking to buy a home in Chicago have heard about all the short sales and foreclosures on the market. In fact, right around 50% of all Chicago recent home sales have been distressed – either short sales... Read more »