“May’s strong increase in transactions — following April’s decline, as well as a sudden erosion in home affordability — was indeed a surprise. The housing market is attracting buyers due to the decline in mortgage rates, which fell below 3%, and from an uptick in listings.” — NAR chief economist Lawrence Yun

The median age of construction workers is 41, the same as a typical worker in the national labor force, according to the National Association of Home Builders’ analysis of the most recent 2019 American Community Survey data.

Suburban Jungle provides pre-search consultation services to homebuyers to help them find the ideal neighborhood or suburb for their needs and match them with a vetted real estate agent.

In light of the increasing number of natural disasters in recent years, the foundation commemorated its 20th anniversary by launching Hope Rising, “a campaign designed to ensure the foundation can respond to disasters as quickly and effectively as possible.”

Denying a mortgage to a woman because she is on or plans to be on maternity leave is against the law, but some lenders are accused of doing just that.

New construction apartments are getting bigger in Chicago and other major markets after shrinking in size from 2016 to 2020, according to a recent study by RENTCafe and Yardi Matrix.

The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported.

The shortage of housing in America is more “dire” than previously expected, and the NAR’s new report puts pressure on lawmakers to provide additional public funding and policy incentives to fix this massive underbuilding gap.

Agents at @properties who earned more than a quarter-million dollars in commissions for the first time with the company were awarded a high-end attaboy by the brokerage for their work in 2020.

Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.

The program allows these temporary renters to recoup 50% of the rent they pay (up to 2.5% of the sales price) during construction as a credit toward their condo at closing.

Inventory levels rebounded last month, finally showing signs of recovery following a year of historical declines. 

The typical increase in home sales as summer approaches failed to materialize nationwide last month, with average sales dropping 0.2% from April to May, but month-over-month sales in Chicago bucked the trend, climbing 4.3%, according to the RE/MAX May National Housing Report.

Single-family housing starts were up 4.2% from April and 49.8% from May 2020, at 1,098,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.

Illinois is the 18th-best state to live in the country, according to WalletHub’s 2021 Best States to Live In list. 

Although pending sales are up 29% from last year, they are starting to slow down, dropping 9.7% from their peak four weeks ago.