Current Market Data

New-home sales plummet in July
New-home sales plummet in July

Also during the month, the median sales price rose to $390,500 from $370,200 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Chicago homes sold well over asking prices last quarter
Chicago homes sold well over asking prices last quarter

In what’s been a historic, frantic market, homes selling for large sums over list prices have risen sharply since January.

Existing-home sales rise again in July
Existing-home sales rise again in July

“Much of the home-sales growth is still occurring in the upper-end markets, while the mid- to lower-tier areas aren’t seeing as much growth because there are still too few starter-homes available.” — NAR chief economist Lawrence Yun

What do buyers want to see in your real estate listing marketing?
What do buyers want to see in your real estate listing marketing?

You might be surprised by the results of this survey.

New-home construction falls in July
New-home construction falls in July

“The bright spot in an otherwise underwhelming report comes from the increase in the overall number of permits issued, which can signal how much home construction is in the pipeline.” — First American deputy chief economist Odeta Kushi

Chicago bidding wars dip in July
Chicago bidding wars dip in July

Following months of sky-high prices paired with manic competition — driven by limited supply — the frenetic housing market is starting to cool down. Somewhat.

New listings rose in July as more affordable options hit the market
New listings rose in July as more affordable options hit the market

Smaller, more affordable homes are hitting the market, helping moderate median list prices, according to Realtor.com.

No new median-home price records set in July
No new median-home price records set in July

For the first time since early March, no new records were set for median-home-sale prices last month, ending the five-month streak of record-breaking home prices.

Housing affordability hits 10-year low
Housing affordability hits 10-year low

Just 56.6% of homes sold during the quarter were affordable to families earning the U.S. median income of $79,900, according to the National Association of Homebuilders/Wells Fargo Housing Opportunity Index.

Housing affordability falls for a third straight month
Housing affordability falls for a third straight month

Affordability declined in 49 of the 50 major markets according to the May 2021 First American Real House Price Index. 

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