Baird & Warner has begun sales of Karen’s Corner, a collection of 20 customizable single-family homes in Long Grove.

The median sales price of new homes sold in April rose 8% to $422,500 from $391,100 in March, the U.S. Census Bureau and the Department of Housing and Urban Development reported.

Despite a monthly decline, the rate of new-home construction still came in above consensus estimates. 

Among the top 50 metro areas, Boston and Miami led the pack. 

Builder confidence saw a modest bump in May, but affordability challenges continue to weigh heavily on the housing market, according to new survey from the National Association of Home Builders. 

Illinois REALTORS® applauded the proposals, saying they “mirror the core pillars of Illinois REALTORS®’ legislative platform since 2020.”

In a rare housing market shift, newly built homes saw price reductions more frequently than existing homes in late 2025 for the first time in recent history, according to a new report from Realtor.com.  

Affordability challenges continue to bedevil homebuyers, despite mortgage rates falling to a three-year low, the National Association of Home Builders reported. 

Leaders from Chicagoland developers Lexington Homes and AK Custom Homes share their construction predictions.

Units in the 40-townhome community start at $449,990. 

The 18-acre development will offer 35 new-construction homes in the west-suburban community. 

The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022. 

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

The project will offer a total of 294 rental residences — 245 apartments and 49 rental townhomes — and 13,000 square feet of commercial space. 

The View will bring 573 apartments to the 310-acre super-regional, mixed-use project, the Rock Run Collection. 

The upside surprise came despite monthly and yearly declines in the pace of sales.