Trends

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How much space does $1,500 get you in Chicago?

Our expectations and desires have shifted, with renters searching for more space — often at a higher price tag. And, according to a new study from RentCafe, that’s especially tough in Chicago.

Housing prices top last summer’s highs, hit new record

With fewer people putting their homes on the market, prices continue to skyrocket.

Mortgage applications continue falling in latest weekly survey 

The decrease comes as interest rates continue to climb, according to the Mortgage Bankers Association. 

Two more years until inventory bounces back, experts say

Housing inventory should reach pre-pandemic levels by the end of 2024, according to the results of Zillow’s latest Home Price Expectations Survey. More than 100 market experts and economists weighed in to predict upcoming trends.

Pending-home sales down for fourth month in a row 

“Buyer demand is still intense, but it’s as simple as ‘one cannot buy what is not for sale.” — National Association of REALTORS® chief economist Lawrence Yun  

Illinois REALTORS®: Statewide sales down, but homes selling quickly

Amid rising prices and hiking interest rates, Illinois homes sold faster in February 2022 than in the year prior, according to new data from Illinois REALTORS®.

New-home sales fall again in February 

Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.

NAR Generational Trends Report shows millennials make up 43% of homebuyers

What does the current generation of homebuyers and sellers look like? How old are they and how are they doing business? NAR has answers.

Existing-home sales swing back to negative territory in February 

The median existing-home price for all housing types in February was $357,300, up 15% from a year before, as median prices rose in each region.    

New-home construction picks up in February  

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

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