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 boost in inventory shows signs of seasonal norms as supply starts to catch up with demand.

“There is a lack of resources available to people who may have lived in a certain community their entire life…we were not educated on the financial vehicles available to us.” — CAR President Nykea Pippion McGriff

Rent rates nationwide have been decreasing since the onset of the pandemic, but new data shows that in some cities, this could be changing in the near future.

The median sales price of homes in the 53 metro areas covered by RE/MAX’s National Housing Report rose 4.5% month over month in March to $303,000, marking the first time in the 13-year history of the report that it topped $300,000.

This is first Wisconsin location for Chicago-based @properties, which began offering franchises to independent operators late last year.

Homes listed on a Tuesday, Wednesday or Thursday are selling for more than those listed on the weekend, but how much varies by metro area.

The housing supply shortage is expected to get more extreme as homebuyer demand continues to outweigh inventory levels, a new study found.

The two real estate associations are teaming up to make a variety of services available to each other’s members.

Rising wages and falling mortgage rates are helping keep homeownership within reach of average wage earners nationwide despite surges in housing prices.

Prices in the Chicago metro area were up 6.3% over February 2020 with “normal” market condition indicators.

In an industry where women outnumber men almost two to one, there’s still work to be done, according to three of Chicagoland’s top women broker-owners at a forum held by the Chicago Association of Realtors in recognition of Women’s History Month.

Home prices posted monthly and yearly gains in January across the U.S. as well, according to the S&P CoreLogic Case-Shiller Indices.

“This historic vote is the culmination of nearly two years of community input, conversation, and hard work, but it follows decades of harmful policies and practices that impact Black Evanston families to this day.” — 5th Ward Ald. Robin Rue Simmons

“Despite the drop in home sales for February — which I would attribute to historically-low inventory — the market is still outperforming pre-pandemic levels.” NAR Chief Economist Lawrence Yun

The median sale price of a home in Chicago was $275,000, a 1.5% increase month over month and a 12.7% increase over last year.