Residential property equity continued to grow in the first quarter of 2021, with one in three homes considered equity rich.

Two-thirds of Chicago homes sold on Redfin faced bidding wars in April.

In Chicago, the median sales price of a single-family home jumped 16% on a year-over-year basis to $303,500, the NAR said, citing its quarterly report. 

Multifamily rents rose nationally in April indicating ongoing recovery from the pandemic, according to the latest Yardi Matrix Multifamily National Report.

“With the surge in closings due to the heated housing market, the Orland Park office is opening at the ideal time and further supports our aggressive plans for expansion.” — Kim O’Donnell, Proper Title vice president of business development

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

Private equity-backed Cairn Real Estate Holdings LLC acquired Frisco, Texas-based brokerage and franchisor JP & Associates Realtors and JPAR Franchising. JP & Associates and JPAR Franchising have more than 3,300 agents working in 61 offices in 23 states and

In 40% of metro areas analyzed, first-quarter home prices hit new peaks or tied previous ones, according to ATTOM Data Solutions’ first-quarter 2021 U.S. Home Sales Report.

The Chicagoland luxury market was among the “most robust and diverse high-end property markets in the United States,” according to a new report by Coldwell Banker.

Homes stayed on the market for 17 days less than they did last year, at an average of 34 days.

Nationwide, the seasonally adjusted housing index rose 1.1% month over month in February and 12% year over year, up from monthly and yearly increases of 0.8% and 11.2% in January, respectively.

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.