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
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
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
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
It seems like everyone in the Chicago area is trying to time the real estate market these days. Sellers are holding out for higher prices, convinced that the market is going to turn around any day now and they are going to make 50% on the home they bought 5 years ago. Buyers, on the… Read more
