News / Features

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Affording a down payment is biggest hurdle to homeownership, Chicagoans say

About 70 percent of renters say securing enough cash for a traditional down payment is the biggest obstacle to buying a home, according to a study by Zillow. With an average mortgage payment costing less on a monthly basis

Consumers recognize seller’s market with rising home prices

  Housing confidence fell 3.8 percentage points in March following a survey high in February, according to Fannie Mae’s Home Purchase Sentiment Index ®. The net share of Americans who say it is a good time to buy fell

Developer Curt Bailey on why he lives in his own buildings

When building a high-rise apartment complex, it helps to envision the future occupants of the building and their desires. It’s even better if the developer is a future occupant. That’s what Curt Bailey, president of Related Midwest, learned from

5 facts that explain Older Boomers’ homebuying habits

With all the talk of Millennials and how they fit into the housing market, retirement-age Baby Boomers don’t get a lot of attention as a home-buying population. The numbers show, however, that “Older Boomers” aged 62 to 70 years

Average mortgage size reaches record high

The average mortgage size is $318,200, which is the largest it has been in the 27-years of The Mortgage Bankers Association’s weekly purchase loan data survey. There are multiple factors leading to higher mortgages in the United States beyond larger

Federal housing laws protect LGBT citizens, court rules

LGBT people have protection against housing discrimination under the Federal Fair Housing Act, a federal judge ruled for the first time last week. The federal law prevents landlords from refusing to rent or sell housing to anyone based on

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Chicago agent is the youngest person on Realtor Mag’s “30 Under 30” list

A Chicago agent has been included on this year’s “30 Under 30” list by Realtor Magazine, the youngest person to make the cut. Melanie Stone, broker at Coldwell Banker’s Gold Coast office, was one of 30 young people named

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9 stats that show homebuyers want green technology

Sustainability and an environmentally friendly community are amenities that more and more homebuyers are looking for, according to a recent survey by the National Association of Realtors. Here is perhaps the most obvious sign that green technology is a

Chicago leads nation in Latino homeownership gains

  Nearly 50 years after the passing of the Fair Housing Act, minority households still have lower ownership rates and higher rent burdens than white households, a recent study by Trulia found. But progress made in some cities is

First-time homebuyers make up nearly one-third of February sales

  First-time homebuyers accounted for 32 percent of all residential sales in February 2017, marking minimal change from January 2017 (33 percent) and February of last year (30 percent), according to the National Association of Realtors. Nationally, demand has

The average Chicagoland home sells for less than its original listing price, study says

Existing housing inventory has reached historic lows, making the housing market very favorable to sellers. But that doesn’t always mean that sellers get what they’re asking for, according to a study by the National Association of Realtors (NAR). Nationwide,

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New home construction soars in Chicago

In the midst of a national inventory shortage, new construction spending is up in Chicago, according to the latest numbers from Dodge Data & Analytics. Dodge’s report shows that in the month of February, the metropolitan statistical area of

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Education levels impact post-recession homeownership for Millennials, study shows

For Millennials seeking to become homeowners, level of education may be more of a determining factor than any other socioeconomic indicator, according to a newly published white paper. The study by Fannie Mae comes as the industry seeks to

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New home contracts are nearing decade highs

  Pending home sales made an unexpected jump in February, leading contract signings to their second highest mark since 2006, according to the National Association of Realtors. NAR’s pending home sales index showed a 5.5 percent jump in homes under

Demand for 55-plus communities takes off

Toning it down after retirement is becoming a thing of the past. Many over the age of 55 are looking to downsize in scale and upsize the fun. Communities exclusively serving that age group are growing in popularity, according to reports. These

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Home prices continue to rise, hit 31-month peak in January

Home prices continued to increase into the new year, making January the fifth straight month of record-high home prices, according to new S&P CoreLogic Case-Shiller Indices, which measure U.S. home prices. The latest version of the indices, generated by S&P

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