This Week in Real Estate: Data Clashes, Confidence Men, and Inventories

by Chicago Agent

Home sales data in Chicago was just one of the topics we covered this week in real estate.

A quick rundown of stats from our real estate news for the week of Oct. 17 – Oct. 21, by the numbers:

13.3 – the percentage that home sales in the nine-county Chicagoland area increased in September from last year. Though sales were positive for the counties, city and the state of Illinois, falling home prices continued to clash with the rising sales.

4.91 – the number of homes, in millions, that were sold in September, a 3 percent decline from August. Though year-over-year data remained strong, analysts fear the summer buying boom may be over.

18 – the current level of the HMI, an index that measures builder confidence. Though still low by historical standards, it’s the highest the rating has been in 19 months.

15 – the percentage increase of housing starts in September. With 658,000 starts in the month, new construction posted its best numbers since April 2010.

48 – the percentage of homeowners who would give up the mortgage interest tax deduction in exchange for lower tax rates. Long a stalwart of housing, the deduction is facing considerable opposition from some camps.

20 – the percentage that detached single-family home sales increased in Suburban Chicago, according to new data from MORe.

2.19 – the number of homes, in millions, that are currently on the market. Housing inventories are down 20 percent, according to NAR, and Realtors are worrying that such a lackluster supply of homes will further hamper recovery efforts.

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