The industry group issued its housing-market forecast along with its monthly Pending Home Sales Index for June. 

National Association of REALTORS® Chief Economist Lawrence Yun took issue with the increase, saying the central bank has created “a rare and very tight monetary policy condition.” 

Three new housing developments in are in the works at the former Cabrini-Green site, and the Chicago Housing Authority recently advanced plans for two of them.

The property even includes some original church features, like stained glass windows and an actual pipe organ.

Looking ahead, Chicago is poised as a future leader for adaptive reuse. Trailing New York and Los Angeles, Chicago boasts the third-largest number of apartments expected to be converted over the next years: 3,519 units.

In 2019, the city approved the master plan for Lincoln Yards. Four years later though, the site is still — mostly — empty. Now, Sterling Bay is seeking new investors.

Although detached home prices are holding steady, condo and other attached home values are on the up and up in Chicago’s suburbs, according to new data from the Mainstreet Organizations of REALTORS®.

The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said. 

Low inventory and high demand are buoying builder sentiment in the face of several headwinds. 

The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics. 

MRED will bring back the popular public records database Realist.

As more owners continue to hang onto their houses, home values locally and across the nation have reached a new peak, but it comes at a cost.

Despite the declining rate of increase, home prices have risen for the last 136 months, CoreLogic said. 

Point2 compared the share of luxury listings across the 30 largest U.S. cities — and Chicago is among the top 15.

For the first time in almost 12 months, the average U.S. home is selling above its asking price, as the average sale-to-list price ratio hit 100.1% earlier this month

Set to debut on July 17, “Drive with NAR: The Safety Series” will be hosted by former real estate agent and expert, Tracey Hawkins.