Trends

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Housing inventory rebounds at record rate in largest metros, but Chicago lags behind, Realtor.com reports 

The number of homes available to buyers climbed 18.7% in June, the sharpest year-over-year increase in the history of the report.

Chicago price increases revealed in new S&P CoreLogic Case-Shiller Index

What does the latest S&P CoreLogic Case-Shiller Index show about Chicago real estate?

Pending-home sales post surprise increase in May 

The increase ends a six-month string of monthly declines, the National Association of REALTORS® said.

Surprise surge in new-home sales in May as median price falls 

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

Median existing-home price tops $400,000 for first time in May 

Meanwhile, existing-home sales slid 3.4% from April to a seasonally adjusted annual rate of 5.41 million, according to the National Association of REALTORS®. 

Housing demand expected to return to pre-pandemic levels

Realtor.com’s updated 2022 forecast sees housing demand returning to pre-pandemic levels.

Chicago home sales fall 7% year over year in May

Nationwide, sales fell 8.5% annually and rose 5.8% monthly, as rising interest rates and home prices weighed on homebuyers’ purchasing power, RE/MAX said.

Housing starts plunge in May amid uncertain economic conditions 

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report. 

Chicago home prices show no signs of slowing in March S&P CoreLogic Case-Shiller Index 

Nationally, the index posted its highest annual increase ever.

Home prices decelerate, as the housing market downshifts

With affordability reduced, some buyers are pulling back from the market forcing sellers to adjust their price expectations.

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