January 2015 continued the trend that was noticeable throughout the fall and winter of 2014, and that was declining housing sales. Remember, last winter was the polar vortex with record cold blasts and the second highest seasonal snowfall ever. This January closings, for the most part, would have gone under contract in November and December of […]
The Illinois Association of Realtors is out with the December data. As expected, sales fell year over year marking the 11th month in 2014 that sales were weaker than 2013. From the Illinois Association of Realtors: The city of Chicago saw a 6.8 percent year-over-year home sales decrease in December 2014 with 1,992 sales, down […]
2015 is fast approaching. You know what that means. It’s time for our predictions! 2014 was a lackluster year for Chicago’s housing market after sales and prices exploded in both 2012 and 2013. There were high expectations going into the year, but higher mortgage rates slowed further gains. But rates are back near record lows and inventory […]
The November 2014 sales data is in and, as expected, sales dropped 11.5% from a year ago. From the Illinois Association of Realtors: The city of Chicago saw an 11.5 percent year-over-year decrease in home sales in November 2014 with 1,632 sales, down from 1,844 in November 2013. The median price rose to $230,000 versus […]
The October sales numbers are out. As expected, sales fell year over year as the Chicago housing market took a break. The city of Chicago saw an 8.6 percent year-over-year decrease in home sales in October 2014 with 2,082 sales, down from 2,279 in October 2013. The median price rose to $237,500 versus $218,000 in […]
2013 was famous for having near record low inventory in Chicago. Lack of product and record low mortgage rates combined to push Chicago housing prices up sharply. In some neighborhoods, prices exceeded previous peaks. But over the last few months, the Chicago housing market has been changing. Housing inventories in the Chicagoland area have actually […]
The September home sales data is out. Sales fell again while the median price also rose again. From the Illinois Association of Realtors: The city of Chicago saw an 8.7 percent year-over-year decrease in home sales in September 2014 with 2,187 sales, down from 2,395 in September 2013. The median price rose to $250,000 versus […]
The Illinois Association of Realtors is out with the August home sales and it comes as no surprise to those of us following the market that Chicago’s housing market cooled off at the end of the summer. Sales were down statewide, in the 9-county Chicagoland area and in the City of Chicago. It was the largest […]
The Illinois Association of Realtors is out with the July data. Sales continue to be weaker than a year ago despite lower mortgage rates. The 30-year fixed averaged 4.11% down from 4.35% in July of 2013. The city of Chicago saw an 8.2 percent year-over-year decrease in home sales in July 2014 with 2,664 sales, […]