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

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

SVN Chicago Commercial has closed the sale of an approximately 80,000-square-foot parcel of riverfront land at 2221 W. Oakdale Ave., located in Chicago’s Roscoe Village neighborhood.

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

The Irving Park development will bring 45 affordable residences to market. 

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

Banner Real Estate Group broke ground on The Faywell, a 334-unit multifamily community in downtown Wheaton, after nearly five years of development.

The residences are located on the 800 block of North Homan Avenue in Chicago’s Humboldt Park neighborhood.

The organization issued a statement in support of the pro-development campaign at its annual meeting in Tampa. 

Homebuilder sentiment recently reached its third-lowest level since 2012. 

1Fifteen at Michigan Station, a $48.3 million mixed-use housing development, is set to transform a key corner in Chicago’s Roseland neighborhood, the city announced.

The top six floors of the 10-story building at 111 W. Illinois St. will be converted into 153 market-rate apartments. 

With the additions, Roosevelt Square has opened almost 900 of 2,000 planned mixed-income apartments since work began in 2006. 

The fifth and final phase of Parkside at Old Town will add 99 market-rate and affordable apartments to the community. 

At the same time, days on market rose, and existing-home sales declined.