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Tag Archives: Chicagoland
June 2012 Monthly Market Report
Posted by on July 17, 2012
We’re halfway through 2012, and what a year it’s been. Residential real estate has finally taken some meaningful strides toward recovery, and they’ve all been self-powered without divine (or governmental) intervention. Yes, there have been some head fakes in the past, but there’s real reason to believe that market turnaround awaits us. Beyond home prices, key metrics to watch include Days on Market, Percent of List Price Received and Months Supply of Inventory. Locally, several indicators showed improvement. Let’s see what the rest of our local data has to say.
New Listings in Chicagoland were down 0.7 percent for detached homes and 10.0 percent for attached properties. Listings Under Contract increased 52.2 percent for detached homes and 65.4 percent for attached properties.
The Median Sales Price was up 2.4 percent to $194,500 for detached homes but decreased 6.5 percent to $140,175 for attached properties. Months Supply of Inventory decreased 40.9 percent for detached units and 54.8 percent for attached units.
We seem to be at a critical inflection point in our attempts to spur more hiring. Job growth provides the dual benefit of stimulating new household growth as well as relieving distressed homeowners. There’s also the positive feedback loop of housing creating jobs and jobs creating housing. Keeping the affordability picture afloat, the Fed has vowed to keep interest rates around 4.0 percent through mid-2013.
Click HERE to see MRED’s Monthly Indicators Report for June 2012
[NOTE: Residential Detached and Attached single family activity only.]
Click HERE to see MRED’s Lender Mediated Report for June 2012
[NOTE: Lender-mediated properties are those marked in MRED as “Foreclosed”, “REO”, “Pre-Foreclosure” or “Short Sale”. Residential Detached and Attached single family activity only.]
Midwest Real Estate Data LLC
Posted by on July 17, 2012
Quoted from http://www.facebook.com/MREDLLC:
IARBuzz: Morning Minute – Homebuilder confidence sees biggest jump in nearly a decade – http://bit.ly/Nu0bhJ
Daily Morning Roundup – July 16, 2012
Posted by on July 16, 2012
Here are some of the top real estate posts on the social networking sites this morning:
Are Home Prices About to Rise or Fall? From The KCM Blog – http://t.co/HI8oPAMB
Interesting Blog – Game Theory and Real Estate Negotiations – http://t.co/1WCZ2JYy
Chicago to Become One of the Nation’s Most Desirable Cities – http://t.co/a8kDlI9I
Interactive charts show changes in home values over a 3-mth period by zip code: http://t.co/DA0afcPz
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Daily Morning Roundup – July 13, 2012
Posted by on July 13, 2012
Here are some of the top real estate posts on the social networking sites this morning:
Chase analysts expect home prices to rise 12% by 2016 – http://t.co/wbZMz87Y
10 Best Towns for Families 2012 per Family Circle and Onboard Informatics – Oak Park made the list! http://t.co/tJvO405p
How to Determine Facebook and Twitter ROI – great infographic – http://t.co/kCTJU5NS
Top 10 issues affecting real estate, many of which are interrelated – http://t.co/HHoPmuZc
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Daily Morning Roundup – July 12, 2012
Posted by on July 12, 2012
Here are some of the top real estate posts on the social networking sites this morning:
Housing Passes a Milestone – “The housing market has turned – at last.” http://t.co/3TI9Msub
Foreclosure activity up 22% in IL 1st half 2012 v. 1st half 2011, up 6% nationwide per RealtyTrac http://bit.ly/NprwwZ
Mortgage Rates Dip to New Lows – http://t.co/K7y5kquK
MRED has incorporated the sourceMLS badge into connectMLS, its MLS system. What’s sourceMLS? http://t.co/n2jooz0f
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Daily Morning Roundup – July 11, 2012
Posted by on July 11, 2012
Here are some of the top real estate posts on the social networking sites this morning:
From Chicago Agent Magazine: Read our new story on MRED’s plans to set up a direct feed to Zillow, with comments from MRED CEO Russ Bergeron – http://ow.ly/c9hqG
Zillow names Chicago the best buyer’s market in U.S. – http://t.co/LMbenikE
Top-Ranking Tablets from Consumer Reports , via RETechnology – http://t.co/eoKXN5Bg
Rent Increases Outpace Modest Home Price Rises: TRULIA – http://t.co/ZdySkGaA
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