Real estate news in Chicagoland
In Chicago, 31.9% of Redfin offers faced bidding wars in January compared to 26.3% in December 2020.
More than 60% of certifications across the top states, including Illinois, were offices, health care, higher education and K-12 projects, the report noted.
The website, which notes that housing costs take up about one third of average spending for households, configured data by assessing the median home value and mortgage payment to show the minimum level of income necessary.
The firm is Detroit’s top residential broker for downtown and the city’s top brokerage for adaptive-reuse and new-construction developments.
“In the final months of 2020, single-family rents posted the highest increases in over four years,” said Molly Boesel, principal economist at CoreLogic. “However, single-family rent price reaction to the pandemic and resulting recession differed greatly across metros.”
Bringing their combined 30 years of experience, the Haake Team has joined the ranks of RE/MAX Ultimate Professionals, operating out of the Plainfield office.
The report added that vacation homes and affordable homes in small towns near major urban centers were in strong demand as a result of the pandemic.
Real estate brokerage and technology firm Compass has expanded its Chicago team with Joe Pasquesi as sales manager of the North Shore region.
Welcome to our Top Producers/Real Data issue, which highlights those who made waves in the 2020 Chicagoland market.
Fence-sitters thinking of buying a home beware, says a new study from Zillow, which notes that waiting could mean a much higher mortgage payment down the road.