Read today’s top story: Breaking ground on new construction: What agents need to know

Current Market Data

Single-family construction up, multi-family construction down

The latest New Residential Construction report points to builder momentum, though supply-side challenges linger.
Chicago leads nation in home sales increase of 20%

Home sales across the nation were up 4.3% year over year, making it the third best month for home sales in the 13-year history of the report.
Mortgage applications down slightly as some consumers wait for another rate drop

A new report from the Mortgage Bankers Association shows a slight drop in mortgage application volume amid expectations of further mortgage rate reductions.
Wallethub: Illinois middling when it comes to COVID-19 restrictions

A new report from the financial website Wallethub ranks each state on COVID-19 restrictions.

Sluggish rent growth shows signs of steadying

July rent price increases in lower-priced rentals far exceeded other price levels, according to a new report from CoreLogic.
iBuyer activity down 88% in Q2

The biggest players in the iBuyer market closed up shop at the beginning of the pandemic, and a new report shows the numbers.
Housing sentiment up in August as consumers recognize window of opportunity

The share of consumers who say now is a good time to buy a home has risen to 59%, according to the latest Fannie Mae Home Purchase Sentiment Index.
CoreLogic: Foreclosures could double by 2022

Serious delinquencies are expected to rise — particularly among lower-income households, small business owners and for those working in sectors hard hit by the pandemic.
Unemployment down in August, but long-term damage continues

The U.S. economy added 1.4 million new jobs in August, but one economist warns that permanent job losses are a bigger problem.
Along with COVID-19 hotspots comes homeowner distress, according to a new study

Along with the resurgence of COVID-19 cases and local shutdowns, mortgage delinquencies are on the rise.

 A young, serious African American woman sitting in a boardroom across the table from a young businessman. They are both wearing business suits and the man is looking at the woman and typing on a digital tablet. She is in focus and may be answering questions for a job interview.
Gender pay gap in commercial real estate grows to ‘staggering’ levels

This year’s release of the CREW Network’s benchmark study shows some backsliding in the industry, though there were a few bright spots as well.

July home prices rebound to pre-pandemic highs, but slowdown predicted

CoreLogic’s latest HPI Forecast shows annual home price growth slowing through July 2021, reflecting the anticipated elevated unemployment rates during the next year.
Midwest home sales soar 81.4% in July

Nationwide sales of new single-family homes were at a seasonally adjusted rate of 901,000, up 13.9% from last month and 36.3% higher than July 2019.
More buyers are looking to leave Chicago for smaller cities

Buyers are moving from expensive coastal areas to more affordable inland areas, but the exodus from Chicago continues, according to a new report from Redfin.

Apartment construction at a five-year national low

New apartment construction drops 26% from last year, according to a new study.
From ‘suburgatory’ to ‘hipsturbia’: Pandemic buyers are headed to the ‘burbs

Americans are moving to less densely populated areas as a result of the pandemic, foreshadowing a shift that could have a major impact on residential real estate sales and home prices.

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