Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.

Low mortgage rates and low inventory levels are making the demand for homebuilding more attractive to buyers in Chicago and nationwide.

A new pilot program in Chicago encourages granny flats and basement units, but a recent rule change enacted by Fannie Mae and Freddie Mac could make it difficult to secure home loans for buildings with existing ADUs and basement units that are not in compliance.

The DHS announcement comes in response to businesses reporting an immediate need for supplemental, temporary guest workers for this fiscal year.

Privately owned housing starts jumped 19.4% from February’s revised estimate to a seasonally adjusted annual rate of 1,739,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development

The National Association of Home Builders published the results of its Special Study for Housing Economics, highlighting the 2020 annual census of who makes up its members.

After declining for years, the size of new single-family homes has begun to level off as consumers spend more time at home, a National Association of Home Builders analysis found.

The study largely dispels a long-held belief that nearby homes lose value once low-income housing is built in an area.

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.

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.