All Entries in the "Economy" Category
New Home Sales Plunge to Record Low
January 2010 has the distinction of posting the lowest amount rate of new construction ever sold in a single month since the Census Bureau began keeping the statistics in 1963. Declining since November and December of 2009, January dropped another 6.1%.
Continued pressure from foreclosures and short sales pushing prices down, new construction is an unlikely [...]
Chicago Real Estate Prices Drop, Nationally Rise 0.3%
Just as Chicago breaking news reports that home prices in the Chicago fell 1.6 percent in December, nationally prices continue to tick up 0.3% according to S&P / Case -Shiller. The Chicago real estate news is the sharpest decline among the top 20 metropolitan markets in December, according to a widely watched housing index released Tuesday. [...]
U.S. Foreclosures Drop 10% in January as Illinois Rises 2%
Good news – foreclosure filings down nationally. The not so good news – Illinois in the top 5 of that list with a 2% increase in January over last year. When the list is of foreclosure filings by state, it’s not where Illinois homeowners particularly (that I know of) enjoy being near the top.
The data [...]
National Association of Realtors Release Pending Sales Report
Pending home sales calmed a bit after continued government efforts to revitalize the markets across the country. The National Association of Realtors (NAR) released their Pending Home Sales Index, a market indicator that measures the recent activity and amount of contracts signed last December. The data shows a modest 1% increase from November to 96.6% [...]
Chicago Association of Realtors 2010 Economic Forecast
Geoffrey Hewings, director of the University of Illinois’ Regional Economics Applications Laboratory, addresses the Chicago Association of Realtors 2010 Economic Forecast panel. In this video he gives his assessment of this year and beyond of what to expect in the Chicago real estate market.
