The December numbers for the Chicago metro area are out. From Crain’s: Chicago-area home sales fell 33.2% in December, according to the Illinois Assn. of Realtors. In the nine-county Chicago Primary Metropolitan Statistical Area, home and condominium sales in December totaled 5,033, compared with 7,530 in the same month of 2006. For the year, home […]
Crain’s recently focused on the dilemma many people have voiced here at Crib Chatter. Should they rent or should they buy? Renting seems like the much better financial deal right now. The general statistics also seem to confirm that renting is smarter right now. From Crain’s: Apartment rents are surging in the Chicago area, but that […]
Crain’s is reporting the fourth quarter Chicago sales statistics: Builders sold 2,196 units in the quarter, a 51% decline from the year-earlier period and the biggest quarterly drop since the residential slump began more than two years ago, according to Tracy Cross & Associates, a Schaumburg-based real estate consulting firm. Homes sold in the quarter […]
Did you see all the incentives developers were throwing around in this weekend’s real estate ads? The ad for The Emerald, which is being built in the West Loop near Greektown, said: “Limited Time- Leap Year Promo” Now thru March 2, leap into Emerald for special offers! Plus get $1000 off closing costs and put only […]
Reuters wrote an article this week entitled, “Wealthy May Be Next in Line in U.S. Home Crisis.” And wouldn’t you know it- the writer chose Hinsdale, Illinois as an example of how the bust was affecting the wealthy. The article had some good quotes about the Chicago housing market. About Hinsdale: “There is a section of the […]
The South Loop, as most of you know, has been on a building boom for over 10 years. It has been named the #1 fastest growing neighborhood in the United States. At least a dozen new high rises are currently under construction in the neighborhood, as well as townhomes and lofts. But apparently the nationwide […]
The Sunday Real Estate section of the Chicago Tribune had an article titled, “Seers, soothsayers and educated guessers” about what might go on with the Chicago real estate market in 2008 (and beyond). It had a few interesting tidbits about the Chicago condo market. 1. Younger people will be able to buy condos if they […]
The Case Shiller Standard & Poor’s Housing Index for October was just released. The Chicago Metro Area saw a price drop of 3.2% from October 2006. The good news is that the Chicagoland Area isn’t as bad off as other Metro Areas that are simply getting hammered. Miami down 12.4% year over year Tampa down […]
The Chicago Tribune had an article in the Sunday Business Section called, “‘Bottom’ Proving Elusive” about whether or not now is a good time to buy real estate in Chicago. There were several examples of people choosing to buy properties now that were priced under 2005 prices. In some examples the buyers were getting 20% to […]