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By the Numbers

Mortgage rates spike at the end of September

Mortgage rates rose quickly last week. The 30-year fixed mortgage rate hit 3.01%, up 0.13% from the week prior.

NAR: Pending home sales rebound in August

All four geographic regions saw increases, led by the Midwest, which clocked a 10.4% rise from July, and the South, where sales rose 8.6%. Pending transactions rose 7.2% in the West and 4.6% in the North.

Several Chicago suburbs transition to renter-majority

Although the suburbs bring to mind the dream of home ownership new data from RentCafé reveals that burbs are up for rent! Three suburbs in the Chicagoland area are now renter-majority.

S&P CoreLogic Case-Shiller: Home-price gains set fourth record in a row

The 10-city composite index rose 1.4% on a monthly basis and 19.1% on a yearly basis, while the 20-city composite gained 1.5% monthly and 19.9% annually. 

New-home sales rise in August

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.

Surge in multifamily construction drives housing starts in August

The increase was driven by a 21.6% month-over-month spike in the rate of new multifamily construction. Single-family housing starts, meanwhile, slid 2.8%.

NAHB: Builder confidence posts first monthly gain in four months

September’s reading of 76 was up one point from August, despite lingering challenges with labor and the building-material supply chain, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

RE/MAX: Home sales, prices decline in August

Month over month, home sales were down 3.5%, and the median sale price declined 1.2% to $335,000.

Illinois ranks first among states with the highest foreclosure rates in August

Illinois had the highest foreclosure rate in the nation in August 2021, according to new data from ATTOM’s U.S. Foreclosure Market Report.

August pending-home-sales growth slowest since June 2020

Pending home sales in August rose just 9%, the slowest growth since June 2020, according to a new Redfin report.

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