The limited inventory that has plagued the housing market continued, although at an abated pace.

An analysis of 10 years of home sales found the spring and summer months offer the most gains for sellers, particularly the month of May.

Residential property equity continued to grow in the first quarter of 2021, with one in three homes considered equity rich.

Two-thirds of Chicago homes sold on Redfin faced bidding wars in April.

Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.

The first quarter of 2021 is under our belt, and sales are thriving in the Chicago metro area as the nation begins to reopen. Take a look at the top-producing agents and brokerages across Chicagoland through Agent Publishing’s collaboration with Midwest Real Estate Data LLC.

Whether they’re still weary of going to a gym full of people or just looking to work off those extra pandemic pounds in privacy, homebuyers are increasingly prioritizing home exercise rooms.

Americans believe it’s a much better time to sell a home than to buy one, according to Fannie Mae’s latest survey of home purchase sentiment.

The number of buyers who locked in mortgage rates for second homes spiked to 178% year over year in April, according to a report from Redfin.

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 report. 

Multifamily rents rose nationally in April indicating ongoing recovery from the pandemic, according to the latest Yardi Matrix Multifamily National Report.

The housing market hit records last month as home prices reached an all-time high and homes sold faster than ever. 

Listing keywords associated with families and children, like community pools, nearby parks and cul-de-sacs, led to both faster-than-expected sales and higher premiums.

“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 Kan

In 40% of metro areas analyzed, first-quarter home prices hit new peaks or tied previous ones, according to ATTOM Data Solutions’ first-quarter 2021 U.S. Home Sales Report.

To update you on all the exciting new changes in the luxury market, we went directly to the source: luxury brokers. With much candor, they reveal how the market held up this past year, the types of properties that are moving, how the city compares to the suburbs, buyers’ evolving needs and their exciting predictions for the post-COVID world.