Posts by John Yellig

Home prices surge in Q1, and Chicago is no exception
Home prices surge in Q1, and Chicago is no exception

In Chicago, the median sales price of a single-family home jumped 16% on a year-over-year basis to $303,500, the NAR said, citing its quarterly...

Employment growth misses estimates in April with 266k new jobs
Employment growth misses estimates in April with 266k new jobs

The employment numbers for March were revised down as well. The most recent data indicate a 770,000 increase in jobs for the month, compared to the previously reported increase of...

Mortgage applications dip as rate increases in latest MBA survey
Mortgage applications dip as rate increases in latest MBA survey

"This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity." — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel...

Private equity-backed firm acquires JP & Associates Realtors
Private equity-backed firm acquires JP & Associates Realtors

Private equity-backed Cairn Real Estate Holdings LLC acquired Frisco, Texas-based brokerage and franchisor...

NAR tech-venture fund names 2021 REACH recipients
NAR tech-venture fund names 2021 REACH recipients

The 2021 REACH recipients have collectively raised more than $700 million in capital, employ more than 125 people and represent a valuation of more than $1...

S&P CoreLogic Case-Shiller: Chicago home prices continue to climb
S&P CoreLogic Case-Shiller: Chicago home prices continue to climb

Nationwide, the seasonally adjusted housing index rose 1.1% month over month in February and 12% year over year, up from monthly and yearly increases of 0.8% and 11.2% in January, respectively....

New-home sales surge 21% in March
New-home sales surge 21% in March

Year over year, the pace of sales was up 66.8%...

Chicago median sales price just under $300,000
Chicago median sales price just under $300,000

The median sales price of homes in the 53 metro areas covered by RE/MAX's National Housing Report rose 4.5% month over month in March to $303,000, marking the first time in the 13-year history of the report that it topped...

New home construction surges in March, suggesting relief for homebuyers
New home construction surges in March, suggesting relief for homebuyers

Privately owned housing starts jumped 19.4% from February's revised estimate to a seasonally adjusted annual rate of 1,739,000, according to the U.S. Census Bureau and the Department of Housing and Urban...

Zillow: Most experts expect relief to supply woes later this year, early 2022
Zillow: Most experts expect relief to supply woes later this year, early 2022

Forty-three percent of respondents to the first-quarter Zillow Home Price Expectations survey expect inventory to improve in the second half of the year, followed by 26% who expect it in the first half of...

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