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Chicago a top 30 homebuilding market to watch in 2017

by James F. McClister

homebuilding-real-estate-markets-2017-uli-pwc

When it comes to homebuilding, Chicago is a top 30 market to watch in 2017, according to a joint report from PwC and the Urban Land Institute.

The city’s No. 28 ranking comes as little surprise, as Chicago has seen strong increases in residential construction spending this year. During the month of September, builders spent more than $446 million on new projects, a 13 percent increase year over year, while year to date, spending was up a massive 72 percent to $5.6 billion. New construction  in Chicago is now at 2009 levels.

Check our table below to see how Chicago compares:

Rank City 5-Point Index Score
1 Raleigh/Durham 4.31
2 Charleston 4.25
3 Portland 4.19
4 Nashville 4.06
5 Orange County 4.06
6 Tampa/St. Petersburg 4
7 Washington, D.C. – District 4
8 Philadelphia 4
9 Dallas/Fort Worth 3.95
10 Los Angeles 3.93
11 Austin 3.88
12 Seattle 3.88
13 Charlotte 3.86
14 Boston 3.84
15 Oakland/East Bay 3.83
16 Washington, D. C. – Md. Suburbs 3.83
17 Denver 3.81
18 Orlando 3.8
19 Atlanta 3.79
20 Salt Lake City 3.76
21 Indianapolis 3.72
22 Washington, D.C. – Northern Va. 3.72
23 San Antonio 3.72
24 San Jose 3.67
25 Las Vegas 3.66
26 Phoenix 3.62
27 San Francisco 3.62
28 Chicago 3.59
29 San Diego 3.55
30 Northern New Jersey 3.41
31 Kasnas City, Mo. 3.38
32 Pittsburgh 3.33
33 Honolulu 3.27
34 Jacksonville 3.26
35 Minneapolis/St. Paul 3.25
36 New York – Manhattan 3.23
37 Inland Empire 3.15
38 Sacramento 3.12
39 Houston 3.08
40 Knoxville 3

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