Meanwhile, the seasonally adjusted purchase index declined 6% from the previous week, the Mortgage Bankers Association reported.

Privately owned housing units authorized by building permits in June came in at a seasonally adjusted annual rate of 1,598,000, down 5.1 % from the revised May rate of 1,683,000, but 23.3% above the year-ago rate of 1,296,000.

July’s reading of 80 was down one point from June, but still signaled strong demand for housing, the National Association of Home Builders said.

During the four-week period ended July 11, the average weekly share of homes for sale with a price drop passed 4% for the first time since September 2020.

How luxurious is the American real estate market? You may be surprised.

Meanwhile, the Mortgage Bankers Association’s seasonally adjusted purchase index rose 8% from the previous week.

Adjectives reflecting the desire for privacy and physical isolation gained a place of prominence: “private,” “covered,” “quiet,” “separate” and “enclosed” were among the top 100 most-used description terms.

The competitive homebuying market showed signs of loosening up last month as bidding wars dropped from May despite being higher than they were a year ago. 

Strong growth of single-family construction spending drove the increase, while spending on multifamily construction was flat, the National Association of Home Builders said.

Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.

Illinois is the 18th-best state to live in the country, according to WalletHub’s 2021 Best States to Live In list. 

Although pending sales are up 29% from last year, they are starting to slow down, dropping 9.7% from their peak four weeks ago.

Some cities fared better than others with the global pandemic and Chicago is one of them, according to The Economist’s 2021 Livability Index’s ranking of the most livable cities in the world.

Rising property values had homeowners cashing out of their existing residences to buy bigger homes in less-expensive areas last year.

High-end home sales surged in the three months ended April 30 as prices also rose and listings increased.

Houses in today’s market are selling in days, and Chicago sellers wanting the best chance for a quick sale should list on a Thursday before Labor Day, according to a new analysis from Zillow.