Although pending sales are up 29% from last year, they are starting to slow down, dropping 9.7% from their peak four weeks ago.

CoreLogic says the boost in equity will help stave off foreclosures, but the share of homes underwater in the metro Chicago area was at 6.1% at the end of the first quarter of 2021, outpacing the national rate of 2.6%.

Some cities fared better than others with the global pandemic and Chicago is one of them, according to The Economist’s 2021 Livability Index’s ranking of the most livable cities in the world.

Rising property values had homeowners cashing out of their existing residences to buy bigger homes in less-expensive areas last year.

High-end home sales surged in the three months ended April 30 as prices also rose and listings increased.

Detached single-family homes listed in the Chicago area are selling faster than ever, spending an unprecedented average of 53 days on the market in April, according to a report from the Mainstreet Organization of Realtors (MORe).

Houses in today’s market are selling in days, and Chicago sellers wanting the best chance for a quick sale should list on a Thursday before Labor Day, according to a new analysis from Zillow. 

Home-price growth remained in double digits for the 10th straight month in May as inventory lows pushed the median listing prices up 15.2% from last year.

Of the 99 million residential properties in the U.S., approximately 1.4 million (or 1.4%) are vacant this quarter, with “zombie” home rates increasing both quarterly (21%) and annually (5.6%).

City life is reawakening after a year marred by the pandemic, but that doesn’t mean the resurgent demand for homes in the neighboring suburbs is coming down any time soon.

Year over year, however, pending home sales were up 57.1%, the NAR said, citing its monthly Pending Home Sales Index.

First-time homebuyers found their long-term plans changed due to COVID.

“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” — MBA Associate Vice President of Economic and Industry Forecasting Joel Kan

The pace of housing-price gains in Chicago quickened in March, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which showed a 1.9% increase from February and a 9% increase from a year earlier, compared to a gain of 0.2% the previous month.

Housing records continue to be broken, but despite the strong numbers, data could indicate homebuyer demand is reaching a peak.

Higher income, backed up by lower mortgage rates, has expanded the reach of the average homebuyer, but an increased demand for homes has concurrently driven up prices, negating two of the three main factors in First American Financial Corp.’s Real House Price Index.