Governmental affairs directors will work directly with mayors, county leaders, planners, local officials and housing stakeholders to identify and remove barriers that are delaying or preventing new construction. 

New builds are about the same price as existing homes on the market, but that is not due to rising regulatory costs builders have to pay.

The seasonally adjusted annual rate of 628,000 homes topped Wall Street’s estimates. 

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.