National News

Pending home sales lose steam in April

Pending home sales dropped in April, despite two prior months of increases. According to the National Association of Realtors, pending homes sales decreased by 1.3 percent in April. Pending home sales dropped from 107.8 in March to 106.4 in

Underwater mortgage rate falls below 10 percent

For the first time since the economic crisis of 2007–08, the share of homeowners who are underwater on their mortgage fell below 10 percent, according to Zillow 2017 Q4 Negative Equity Report. Just 9.1 percent of homeowners owe more

Real Estate in Brief: Zillow’s first home purchase, political shifts and more

Zillow Group purchased its first home as a part of the Instant Offers program expansion. The purchase marks Zillow’s transition from its role as a real estate media company to a company that partakes in the direct buying and

How Chicago’s real estate market ranks among the top 20 HQ2 city finalists

If Chicago were chosen to be the home of Amazon’s HQ2, the demand for housing would skyrocket. Along with the 50,000 jobs that the new headquarters would bring to the city, home prices would increase significantly as people from around

What millennials are willing to compromise on to buy a home

Millennials may be working hard to buy their dream homes, but many find themselves compromising to fulfill their goals of homeownership. According to a survey from ValueInsured, 85 percent of millennial homeowners compromised when buying their dream house. Survey

NAR pulls President’s Circle support of Congressman after anti-LGBTQ comments

The National Association of Realtors pulled its endorsement of Rep. Dana Rohrabacher (R-California) after he made comments saying it was acceptable for people to refuse to sell their homes to gays and lesbians. Wayne Woodyard, a former Orange County

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NAR: Housing inventory increased slightly in April

Existing-home sales dropped in April, despite the increase the market saw in the last two months, according to the National Association of Realtors. Existing-home sales include single-family home, townhome, condominium and co-op transactions. The sales dropped 2.5 percent in

What $200,000 will get you in Chicagoland real estate

It’s no secret that some cities compared to others have larger asking prices for smaller spaces. PropertyShark wanted to test the logic and figure out what a homebuyer can get for their money in cities around the United States.

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Zillow: Monetary policy most likely cause of the next recession

The most recent quarterly survey by Zillow suggests that the U.S. will likely experience another recession come 2020. Pulsenomics LLC conducted a survey that asked more than 100 real estate experts and economists about their predictions for the housing

Market mismatch score drop leads to an increase in premium home searches

After two years, the difference between what buyers are looking for and sellers are providing is coming closer together, bringing the market mismatch closer to a match. Market mismatch can be defined as the measure of the price gap

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Home sales around Chicagoland pick up steam in April

Homebuyers are out in full force as home sales and prices around Illinois rose this April, according to Illinois Realtors. Illinois home sales, which include single-family homes and condominiums, totaled 14,478 of homes sold in April. The home sale

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Survey shows homebuyers want more technology use from agents

A new Owners.com survey found that homebuyers are looking for their real estate agents to use more tech-based tools. The survey sampled more than 1,000 homeowners, which they define as “those who purchased a home within the last four

Single women buying twice as many homes as single men, study says

While the overwhelming majority of homebuyers are married couples, it is women who make up the larger share of sales among single people, according to the National Association of Realtors. Single women are the second-most common homebuyer, accounting for

Luxury homes prices up nearly 8 percent in the first quarter

Luxury home prices rise nearly 8 percent to average sales price of $1.8 million in the first quarter of 2018, according to a new report from Redfin. An analysis of over 1,000 cities by Redfin indicates prices of the top five percent

Homeowners expected to spend tax returns on larger homes

With the latest tax plan that is expected to give Americans a larger tax return, many plan to spend their tax cuts on larger houses and home renovations in 2018, according to a new report from Zillow. Zillow estimates

Real Estate in Brief: Zillow lawsuit dropped, home flipping on the rise and more

A class-action lawsuit that charged Zillow with deceptive business practices designed to mislead consumers has been dropped. A Federal district court has dismissed the lawsuit last week. The lawsuit claims that Zestimates, Zillow’s algorithm-based property estimate tool, are commonly inaccurate as

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