By the Numbers

RE/MAX: Chicago median-sales price slides as inventory climbs 

Nationally, the median sales price slid 2.9% from June but rose 8.1% from July 2021, while closed transactions were down 16.6% on a monthly basis and 26.3% on a yearly one, RE/MAX said in its National Housing Report.

NAR: Existing-home sales fall again in July, but could stabilize  

A recent decline in mortgage rates could return some purchasing power to buyers going forward, National Association of REALTORS® chief economist Lawrence Yun said. 

New-home construction falls 9.6% in July 

The pace of housing starts for both single-family and multifamily residences was down on a month over month basis, the U.S. Department of Housing and Urban Development reported. 

NAHB: U.S. in a “housing recession,” single-family starts will decline in 2022 

The NAHB/Wells Fargo Housing Market Index fell for the eighth straight month in August, as the key measure of builder confidence indicated a pessimistic outlook. 

CoreLogic: Chicago home-price increases lag national average in June 

Home prices were up 11% in Chicago on a year-over-year basis, compared to 18.3% nationwide, CoreLogic reported, citing its Home Price Index. 

After May bump, pending-home sales hit June dip 

“Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to date.” — National Association of Realtors chief economist Lawrence Yun  

June new-home sales drop 8.1% month over month

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

Single-family housing starts fall for fourth month in a row in June 

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

NAR: Existing-home sales continue slide in June 

At the same time, the median existing-home price rose 13.4% year over year to $416,000. 

Chicago housing inventory jumps in June RE/MAX survey 

Nationwide, sales hit their highest level of the year, rising 4.7% from June but falling 17.6% on a year-over-year basis, RE/MAX said. 

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