Category: Coronavirus

Chicago Real Estate Market Update: Highest September Sales In 15 Years

Chicago Real Estate Market Update: Highest September Sales In 15 Years
Well, it looks like the Chicago real estate market is still managing to eke out records despite all the effects of the pandemic speeding up and slowing down activity. The graph below shows all the monthly home sales history going back to 1997 along with all the September data points flagged in red. You can... Read more »

Chicago Real Estate Market Update: Highest August Sales In 14 Years

Chicago Real Estate Market Update: Highest August Sales In 14 Years
While it’s true that the Chicago real estate market just had its highest August sales in 14 years there are a few caveats that go with that statement. First, you won’t be able to tell that from the graph below (all the August points are in red and there is a green, 12 month moving... Read more »

Chicago Real Estate Market Update: July Sales 3rd Highest In 25 Years

Chicago Real Estate Market Update: July Sales 3rd Highest In 25 Years
The Chicago real estate market had another super strong month of home sales in July. Since last year was a bit funky with the pandemic we should compare it to 2019 and on that basis closings were up 23.3% despite the fact that we now have 1 1/2 years of pandemic under our belt. And... Read more »
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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 »

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 »

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 »
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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 »

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 »
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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 »