The gap between sales and construction reached a record high in 2020, which likely means a slowing down in sales and growth in construction in 2021, according to a year-end report by the National Association of Home Builders.
Areas hit hard by the pandemic could see a wave of zombie properties once the federal ban on foreclosures expires.
CA6 West Loop condos from Chicago-based Belgravia group are already 35% sold.
See how Chicago tops the list when it comes to apartment conversions.
Over the decades, Chicago developers and builders have moved from the traditional two-flat and bungalow-style homes to investing in different options for affordable housing, like infill construction, modular-type homes and flexible buildings. Is it working, and what will the landscape of entry-level housing look like in the near future?
Brokers let us know what’s ahead for entry-level housing in Chicagoland.
Back when legislators were crafting language for an ordinance to make it easier for homeowners to build, rent out and remodel accessory dwelling units on their property, the hope from sponsoring Chicago City Council aldermen was that the legislation would have passed by August.
Low inventory of affordable homes is a major problem for today’s local real estate industry. But it’s not the first time Chicago has been short of what it needs in terms of housing.
While many first-time buyers are looking for more affordable options, those who can afford a little more square footage are increasingly interested in getting out of the city.
Small metro suburbs did the best in terms of construction with a more than 10% increase in market share over a year ago.