Chicago Real Estate Market Update: June Sales 2nd Highest In 25 Years

Chicago Real Estate Market Update: June Sales 2nd Highest In 25 Years
Once again the Chicago real estate market had an incredibly strong month in June. It came close to setting a 25 year (probably an all time) record in home sales. Let’s ignore the meaningless comp to 2020 and focus on the fact that June closings were 36.3% higher than June 2019. You can see just... Read more »

Case Shiller: Chicago Area 7 Year Record Home Price Growth Doesn't Cut It

Case Shiller: Chicago Area 7 Year Record Home Price Growth Doesn't Cut It
S&P Dow Jones released the April CoreLogic Case-Shiller home price indices this morning showing that Chicago area single family home prices continue to soar. The 9.9% gain from last year is the highest appreciation in exactly 7 years and the 102nd consecutive month of annual gains. Condo prices in the area grew at a much... Read more »

Experts Even More Optimistic About National Home Prices...Chicago Meh

Experts Even More Optimistic About National Home Prices...Chicago Meh
Zillow and Pulsenomics released their 2nd Quarter 2021 Home Price Expectations Survey a couple of weeks ago, only 2 months after the release of their first quarter survey. That first quarter survey was already pretty optimistic but these real estate experts just provided an even more optimistic outlook. If you compare the graph below to... Read more »
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Chicago Foreclosure Activity Continues To Drift Higher

Chicago Foreclosure Activity Continues To Drift Higher
I had trouble getting the Chicago foreclosure activity data last month since RealtyTrac changed their Web site and no longer provides the data I have been using – at least not for free anymore. However, ATTOM Data Solutions has graciously agreed to continue to provide that data so I was able to catch up this... Read more »

Chicago Real Estate Market Update: Home Sales Set 15 Year Record In May

Chicago Real Estate Market Update: Home Sales Set 15 Year Record In May
The Chicago real estate market continued its record setting pace in May, hitting a 15 year high in closed sales. You can clearly see it in the graph below, which has all the May values flagged in red. Also, note that the green 12 month moving average is higher than it has been in 14... Read more »

Case Shiller: Chicago Only Metro With Single Digit Home Price Appreciation

Case Shiller: Chicago Only Metro With Single Digit Home Price Appreciation
Let’s say you’ve been planning on leaving the Chicago area for another city. Well, yesterday’s release of the March CoreLogic Case Shiller home price indices by S&P Dow Jones says you’re basically screwed. Actually, it’s been saying that for a while but yesterday’s release really rubs your nose in the fact that the cost of... Read more »
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Chicago And Illinois Politicians Pretend They Can Create Affordable Housing

Chicago And Illinois Politicians Pretend They Can Create Affordable Housing
Over the last few months politicians across Chicago and Illinois have been working overtime pursuing the impossible dream, trying to wave their magic legislative wands to conjure up affordable housing out of thin air. While it will probably succeed in getting them the votes they’re after it will ultimately fail, as it always does, in... Read more »

Best Outlook For National And Chicago Area Home Prices In A Decade

Best Outlook For National And Chicago Area Home Prices In A Decade
This blog post is a bit overdue but I’ve been distracted lately. Last month Zillow and Pulsenomics came out with their 1st Quarter 2021 Home Price Expectations Survey for the nation and the results were a bit more optimistic than we’ve seen in a little more than a decade. Because this is the first quarter... Read more »

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 »
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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 »