Current Market Data

Chicagoland homes hit highest median sales price in years
Chicagoland homes hit highest median sales price in years

“One year into the coronavirus pandemic, it’s clearer than ever that this event did not dampen the enthusiasm for homeownership at all.” — MORe CEO John Gormley

Forbearance rate drops to 4.5%
Forbearance rate drops to 4.5%

As the economy slowly recovers from the early days of the pandemic, the share of loans in forbearance dropped for the seventh consecutive week, signifying a 40-basis-point decrease in the last two weeks.

Chicago in the top 10 cities for rent decreases in 2021
Chicago in the top 10 cities for rent decreases in 2021

Rent rates nationwide have been decreasing since the onset of the pandemic, but new data shows that in some cities, this could be changing in the near future.

Chicago spring market most competitive in years
Chicago spring market most competitive in years

With the lowest level of inventory in nearly 40 years, the 2021 spring market has homebuyers facing a level of competition not seen in a generation.

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 $300,000.

Millennials gain a foothold in today’s housing market
Millennials gain a foothold in today’s housing market

As they come of peak age for first-time homeownership, millennials are gaining an increasing share of today’s housing market.

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 Development

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 2022.

Midweek listings in Chicago sell almost a day faster
Midweek listings in Chicago sell almost a day faster

Homes listed on a Tuesday, Wednesday or Thursday are selling for more than those listed on the weekend, but how much varies by metro area.

Chicago’s housing supply shortage expected to continue for some time
Chicago’s housing supply shortage expected to continue for some time

The housing supply shortage is expected to get more extreme as homebuyer demand continues to outweigh inventory levels, a new study found.

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