Trends

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Chicago home prices reach new highs in May

Home-price growth remained in double digits for the 10th straight month in May as inventory lows pushed the median listing prices up 15.2% from last year.

Zombie foreclosures up 21% across the country

Of the 99 million residential properties in the U.S., approximately 1.4 million (or 1.4%) are vacant this quarter, with “zombie” home rates increasing both quarterly (21%) and annually (5.6%).

COVID savings fuels millennial down payments

First-time homebuyers found their long-term plans changed due to COVID.

RE/MAX: Recordbreaking median home sales price climbs again in April

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

What are the best days to sell a home?

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.

Gen X and millennials want home gyms. Boomers? Not so much.

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.

It’s a seller’s market, Fannie Mae survey shows

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.

Homes with family-friendly outdoor features selling fast

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.

Game on! Luxury market rebounds

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.

New home construction surges in March, suggesting relief for homebuyers

Privately owned housing starts jumped 19.4% from February’s revised estimate to a seasonally adjusted annual rate of 1,739,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development

Millennials dominate homebuyer market as Gen Z enters

Eighty-eight percent of all homebuyers said they used an agent as a source of information during their search, and 91% of millennials age 22 to 30 said the same.

Chicagoans’ interest in luxury apartments peaks

Report finds luxury apartment search is at an all-time high in Chicago.

Americans on the move: Illinois top state for outbound migration

The COVID-19 pandemic is accelerating migration across the country, following moving patterns that began in prior years, according to a new report.

Chicago ranked No. 13 most glamorous city in U.S.

A new report ranks the glamour capitals of America — as well as the glamour deserts.

Here’s what 2021 buyers want in a kitchen

The Houzz 2021 Kitchen Trends Study highlights post-pandemic must-haves.

Pandemic-era sellers to iBuyers: ‘No thanks’

As the housing market heated up this summer, selling to an iBuyer became a less attractive option for many profit-minded homeowners.

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