Archive for April 2020

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 »

Case Shiller: Chicago Area Home Prices Fall Further Behind Rest Of Nation

Case Shiller: Chicago Area Home Prices Fall Further Behind Rest Of Nation
S&P Dow Jones released the February CoreLogic Case-Shiller home price indices this morning for the Chicago area and 19 other major metro areas. Of course, this reflects the real estate market pre-Covid 19 but the indices showed decent year over year home price appreciation of 4.2% for the nation as a whole. But not so... Read more »

Before Coronavirus There Were Positive Signs In Chicago Foreclosure Activity

Before Coronavirus There Were Positive Signs In Chicago Foreclosure Activity
About a week ago ATTOM Data Solutions issued their Q1 2020 U.S. Foreclosure Market Report for the nation and updated their RealtyTrac data. Although foreclosure activity was up 42% from the previous quarter it did manage to come in 3% below Q1 of 2019. Keep in mind that for all intents and purposes March was... Read more »
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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 »

The Outlook For US And Chicago Area Home Prices

The Outlook For US And Chicago Area Home Prices
In mid-March Pulsenomics and Zillow published the results of their 1st Quarter 2020 Home Price Expectations survey of over 100 real estate experts. I’m assuming that the data was gathered prior to the beginning of March when we still only had a handful of coronavirus cases in the US and nobody knew what was about... 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 »
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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 »

Chicago Real Estate Market Update: March Contracts Fell Off A Cliff

Chicago Real Estate Market Update: March Contracts Fell Off A Cliff
I’ve been issuing weekly updates on the impact of the coronavirus nightmare on the Chicago real estate market prior to today but I’m now due for my monthly update so I’ll just weave the two together. March is the first month where we can start to see how these unusual circumstances are affecting the market.... Read more »