Crib Chatter

Anyone who is out looking to buy a home in the Chicagoland area knows just how low the inventory is. Meanwhile, prices continue to hold up even as sales declined again year-over-year in October. It was the lowest October for sales since 2011, which was during the housing bust. From the Illinois Association of Realtors: […]

In September, home sales fell again as rates rose. It was the lowest number of sales since 2011. From the Illinois Association of Realtors: The city of Chicago saw a 11.3 percent year-over-year home sales decrease in September 2023 with 1,830 sales, down from 2,064 in September 2022. The median price of a home in […]

It’s time for a break so I’m taking off until Oct 16. Since it’s hurricane season, I will not be in the Caribbean on a beach this time. Alas. But it’s a big world, so I’m going out to explore it. Please be nice to each other while I’m gone. This is a really interesting […]

The Illinois Association of Realtors is out with the August data. August was before the rates spiked to 20+ year highs but rates were still over 7% in the month. It was still the lowest August since 2011, which was during the housing bust. From the IAR: The city of Chicago saw a 7 percent […]

With rates moving back towards 7% early this summer, that slowed Chicago housing sales once again. July sales plunged to their lowest since the housing bust in 2011. The city of Chicago saw a 20.0 percent year-over-year home sales decrease in July 2023 with 1,986 sales, down from 2,481 in July 2022. The median price […]

Two years ago, June sales were at new highs. It was so hot, that June 2021 was better than even the bubble year Junes. But last year, mortgage rates spiked over 5% in June and that pushed down sales. In 2023, mortgage rates were even higher, over 6%. And June sales fell again. It was […]

As other major metros come down off their red hot pandemic highs, Chicago, which has lagged for years at the bottom of the S&P Corelogic Case-Shiller 20 largest metros index for price appreciation, has finally come in on top. In May, Chicagoland single family homes rose 4.6% year-over-year, to top the list, followed by Cleveland […]

It’s time to talk about the May sales data. It’s been trending the same for most of this year with sales down sharply year-over-year, median price coming down and inventory continuing to fall. It was the slowest May since May 2020 which got hit as the market froze up when COVID hit and the lock […]

The Illinois Association of Realtors is out with the April sales data. It remains at multi-year lows. Sales were at their lowest since April 2020 when the COVID pandemic spooked home buyers and sales ground to a halt. From the IAR: The city of Chicago saw a 37.6 percent year-over-year home sales decrease in April […]

March sales were down again. But last March was the month the Fed first started raising rates in this cycle. Mortgage rates started sharply rising in March 2022. Those rates quickly cooled the housing market. But is the slowdown playing out as we all thought? From the Illinois Association of Realtors: The city of Chicago […]