Sizzling Hot Chicago Real Estate Market Had Record Sales In April

Sizzling Hot Chicago Real Estate Market Had Record Sales In April
I think April had record sales but I can’t be entirely sure. Check out the graph below (all the April values are flagged in red) and notice that last month was slightly lower than April 2005. However, all the April 2005 sales are posted after 16 years but there are still a few April 2021... Read more »

Case Shiller: Chicago Area 7 Year Record Home Price Appreciation Disappointing

Case Shiller: Chicago Area 7 Year Record Home Price Appreciation Disappointing
S&P Dow Jones released the February CoreLogic Case Shiller Home Price Indices this morning which show that the nation’s single family home prices rose 12.0% over the previous year, compared to 11.2% for the 12 months ending in January. That was the highest year over year appreciation rate in 15 years. Alas, the Chicago area... Read more »

Despite Moratorium Chicago Foreclosure Activity Hits A One Year High

Despite Moratorium Chicago Foreclosure Activity Hits A One Year High
The ATTOM Data Solutions Q1 2021 Foreclosure Market Report released yesterday provided a bit of insight into what is going on with Chicago’s and the nation’s foreclosure activity in the era of a perpetual moratorium on foreclosures. The latest extension of the moratorium moved it out to June 30 but it’s likely to get extended... Read more »
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Chicago Real Estate Market Was On Fire In March

Chicago Real Estate Market Was On Fire In March
First, let me be clear that closings in the Chicago real estate market were not depressed in March of last year. In fact, sales were up 2.8% over the previous year because those contracts had been written mostly in February and earlier, before things got ugly. So, when I tell you that closings this March... Read more »

Almost A 7 Year Record, Chicago Area's Home Price Gains No Match For Rest Of Country

That shortage of homes for sale is really beginning to impact home prices – as you would expect. The graph below shows the historic year over year increases for both single family home and condo prices in the Chicago area and you can see how they’ve really taken off recently. S&P Dow Jones released their... Read more »

Chicago Foreclosure Activity Slowly Drifting Up But Remains Low

Here’s just a quick update on Chicago foreclosure activity. Remember that, for all practical purposes, we are in the middle of an indefinite moratorium on foreclosures. It keeps getting extended because of all the people left unemployed from the pandemic. So it’s no surprise that every month the answer is pretty much the same, though... Read more »
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Chicago Real Estate Market Update: Sales Up Again, Inventory Ridiculously Low

Hmmm. After looking at the February data I’m thinking that maybe the Chicago real estate market really is doing something more than simply making up for the lost activity during the initial lockdown when the pandemic first hit. Maybe we really have entered a bull real estate market, though the bull may be losing a... Read more »

Case Shiller: Chicago Area Home Prices Continue Surge While Lagging Nation

Case Shiller: Chicago Area Home Prices Continue Surge While Lagging Nation
S&P Dow Jones released their December CoreLogic Case Shiller home price indices this morning. The year over year price increase for the nation’s single family homes moved into double digit territory with a 10.4% gain, which is the largest increase in 7 years. That was up from a 9.5% increase for November so price appreciation... Read more »

Tenth Month Of Record Low Chicago Foreclosure Activity

Tenth Month Of Record Low Chicago Foreclosure Activity
The January 2021 U.S. Foreclosure Market Report from ATTOM Data Solutions came out last week along with updated numbers for RealtyTrac (owned by ATTOM). The Biden administration also just extended the foreclosure moratorium and forbearance program through June. Nationwide foreclosure activity is still down around 80% from last year. As Rick Sharga, RealtyTrac executive vice... Read more »
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Chicago Real Estate Market Update: Powerful Start To 2021

Chicago Real Estate Market Update: Powerful Start To 2021
It looks like the Chicago real estate market is off to a really strong start in 2021 with January setting a 14 year record high for closings. Closings last month were 17.1% higher than last January as the market continues to make up for lost home sales early in the pandemic. In fact, for the... Read more »