Posts tagged "real estate market"

Chicago Home Sales Drop 28% In April

Chicago Home Sales Drop 28% In April
With another week and a half until the Illinois Association of Realtors announces April home sales for Chicago I’m here to tell you that they’re going to be down around 28% from last year. Actually, my preliminary numbers indicate they will be down 27.9%. But that was totally expected since last year’s numbers were artificially... Read more »

39% Of Chicago Homes Underwater

Zillow just released their 4th quarter real estate market report for the nation and the 25 largest metropolitan areas. What it shows is that for the Chicago area 38.6% of all homes are underwater. This data is based upon Zillow’s estimates of home values, which are notoriously inaccurate, but let’s assume that those errors cancel... Read more »

Where Are Homes Selling In Chicago?

As another follow up to the reported 41.5% increase in Chicago home sales in February I looked at the breakdown by neighborhood since it was apparent that not all neighborhoods were participating equally in the rebound. In the map below, which can be expanded by clicking on it, dark green corresponds to a 300% or... Read more »

Chicago Home Sales Jump 41.5% Over Last Year

The Illinois Association of Realtors just released home sales for Chicago, the broader metropolitan area, and the state. While home sales in the state of Illinois were only up 15.7%, sales in the metropolitan area were up 32%, and Chicago sales were up a whopping 41.5%. We track monthly home sales for the broader metropolitan... Read more »

Declining Employment Can Only Worsen Chicago Real Estate Market

How much worse can it get? I just picked up the January employment numbers for the greater Chicago metropolitan area and the picture is getting more grim than I thought – we have hit a new 14 year low. The Chicago area has lost 162,000 jobs in just the last 12 months and a total... Read more »

Chicago Area Foreclosures Jump In February

On Thursday Crain’s reported that Illinois foreclosure activity was up 22% in February over last year. For the Chicago area they reported that Kane county was the worst with a 57% increase and Cook, Dupage, Lake, McHenry, and Will counties ranged between a 24 – 29% increase. This data comes from Realty Trac, which defines... Read more »