Chicago’s housing inventory is on the rise, thanks in part to a boost in new-home construction in the market.

The 6.3% month-over-month decline was the steepest the U.S. market has seen since September 2022. 

At the same time, the pace of home sales continued on its downward trajectory. 

In Chicago, home prices surged 6.5% year over year in March — the second-highest gain in the index after New York — and rose 1.17% month over month. 

The summer is expected to bring an uptick in the pace of home sales, the association said. 

New data released by CoreLogic/Cotality, and examined by noted industry researcher Mike DelPrete, contradicts this commonly held notion, however, and shows that the ratio is actually closer to 65/20.  

Nationally, home sales slid 1.4% year over year but increased 11.3% month over month, RE/MAX said. 

At the same time, listings under contract declined, and closings rose. 

The association noted, however, that 90% of the responses to its survey tracking homebuilder sentiment were received before the announcement of a 90-day reprieve in U.S.-China tariffs. 

Driven primarily by the construction boom during the pandemic, the housing market has seen some improvements in affordability, but homes remain out of reach for many would-be buyers.

For many renters, like new grads, people who travel frequently for work, recent divorcees or young couples, living small just makes more sense.

The most recent Weekly Mortgage Applications Survey shows homebuyer activity continued despite the economic uncertainty. 

Listings under contract were also probing new heights for 2025, according to the MLS’s Weekly Market Snapshot. 

HomeSmart’s yard signs will now have QR codes and NFC (Near Field Communication) tags allowing home shoppers to access property details.

Homes that are professionally staged not only attract more attention from potential buyers — they also sell faster and for more money, according to data from the National Association of Realtors’® 2025 Profile of Home Staging.  

Despite the deceleration, the company, formerly known as CoreLogic, expects prices to rise another 4.9% over the next year.