Posts Categorized: Market Insights

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Chicago Condo Glut Just Getting Worse

This week’s Crain’s ran a story on the continuing demise of the downtown condo market. According to data from Appraisal Research Counselors sales of new downtown homes (i.e. condos) sank “73% to a record-low 685 units during the first six months of this year” compared with the first half of 2007. Here is the data:… Read more

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Employment Decline Can’t Be Good For Real Estate

Recently the Bureau of Labor Statistics released their June numbers. For the first time in a while employment levels in the Chicago metro area actually declined year over year – not by a huge amount but by 12,500. The unemployment rate surged to 7.1% from 6.3% the previous month but this was more a result… Read more

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Chicago Area Real Estate Market Trends

There are a number of statistics that are reported monthly that are of interest to potential and current homeowners. Everyone seems to want to know where the real estate market is going. Therefore, we have collected all the relevant Chicago area real estate market data in one place and will keep them updated monthly. We… Read more

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Price These Homes

We just launched a new, fun feature on our Web site where people get to demonstrate their real estate prowess with virtual dollars and also help us all get a better grip on home prices in the Chicago area. It’s called Price This Home. This new feature was created based upon three simple facts: When… Read more

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Reason For Optimism Regarding Chicago Home Prices?

Although my last post provided 3 different sets of data that suggest that Chicago housing prices will continue to decline the local employment numbers actually paint the opposite picture. A while back I wrote about how employment in Chicago is a primary driver of housing demand. Surprisingly, a few months later the numbers continue to… Read more