Current Market Data

NAR: Pending-home sales rise for the first time in four months 

The industry group issued its housing-market forecast along with its monthly Pending Home Sales Index for June. 

Q2 Real Data is live: Find out which agents and offices had big second quarters

Our quarterly Real Data report breaks down which agents and offices are excelling in each Chicagoland county.

NAR: Existing-home sales slow as prices near all-time high 

The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said. 

Only 1% of U.S. houses changed hands this year

Back in 2018, Freddie Mac stated that the country still needed about 2.5 million extra homes in order to meet demand. Then the pandemic homebuying boom depleted already-low inventory levels and high mortgage rates in the second half of 2022 chained many homeowners to their existing low rates.

NAHB: Builder confidence hits 13-month high 

Low inventory and high demand are buoying builder sentiment in the face of several headwinds. 

Housing starts post unexpected slide in June 

The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics. 

Home sale prices near all-time high as demand grows

For the first time in nearly a year, the average home sold above list price, fueling bidding wars in some markets.

Chicago home values reach new peak as inventory drought intensifies

As more owners continue to hang onto their houses, home values locally and across the nation have reached a new peak, but it comes at a cost.

Chicagoland home prices see second-largest annual percentage increase among large U.S. metros

Despite the declining rate of increase, home prices have risen for the last 136 months, CoreLogic said. 

Homes are selling above asking price for first time in nearly a year

For the first time in almost 12 months, the average U.S. home is selling above its asking price, as the average sale-to-list price ratio hit 100.1% earlier this month

Illinois less expensive than most states for average price per square foot

Illinois had an average price per square foot of $183.

NAR: Pending-home sales dip in May as demand remains strong 

Transactions that do go through are typically seeing multiple offers, NAR Chief Economist Lawrence Yun said. 

Case-Shiller: Home-price index just 2.4% off 2022 peak; Chicago sees 4.1% gain

A third consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index lends new evidence to claims that previous declines could be behind the market. 

New-home sales surge in May 

Demand for newly built homes has remained strong as high interest rates keep many would-be sellers of existing homes off the market. 

NAR: Existing-home sales tick higher in May 

At the same time, the median existing-home price for all housing types slid 3.1% year over year to $396,100. 

How each generation feels about homeownership in America

Motivations for homeownership are varied across generations: Gen Z and Boomers made the decision for better living conditions, while Gen X and Millennials were in search of stability they couldn’t get while renting.

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