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Pending Home Sales Down 1.8% in July
Pending Home Sales Down 1.8% in July WASHINGTON (August 30, 2021) – Pending home sales dipped modestly in July, noting two consecutive months of declines, according to the National Association of Realtors®. Only the West region registered a month-over-month gain in contract activity, while the other three major U.S. regions reported drops. All four regions…
Read MoreMay 2021 Market Snapshot
May 2021 Market Snapshot MARKET SNAPSHOT — CITY OF CHICAGO May 2021 Market Snapshot- *The City of Chicago Market Snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS®. 3,403 properties were sold in the City of Chicago in May 2021. This…
Read MoreThe 26 Best Curb Appeal Ideas for Every Budget
Curb Appeal Ideas for $0 – $500 1. Create a Seating Area on the Porch Estimated cost: Free – $500 Will you need to hire a contractor? No 2. Use Lawn Paint to Make a Brown Lawn Green Again Estimated cost: $150 Will you need to hire a contractor? No 3. Add New House Numbers Estimated cost: $20 –…
Read MoreMortgage Rates Rise Above 3%
For the first time in 10 weeks, mortgage rates inched above 3%—and the era of 2% rates may be over. “As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year,” said Sam Khater, Freddie Mac’s chief economist. “For those homeowners who…
Read MoreChicagoland Open house totals rise as inventory grows- Hot Market
Housing Market Gone Crazy- Everything is up Hosing Market Gone Crazy- If you didn’t know it- The market is hot right now. More properties are coming on the market and more are closing. Here are some raw stats More open houses took place in MRED’s marketplace last week than in any individual week since mid-November.…
Read MoreIs The Housing Market Going To Cool Off Soon
Is the housing market going to cool down? According to data provided by the Federal Reserve, inventory bottomed out nationally in October, hitting levels we haven’t seen since 2004. This has led to one heck of a seller’s market over the last couple of months. The months supply of inventory for single-family homes in Chicagoland…
Read MoreCities Where Homes Are Selling The Fastest
Homes Selling Fast & Inventory Down The market has an unusually constrained supply of homes for sale. Real estate inventory usually shifts on a seasonal basis, dropping in the winter and picking up in the warmer months. COVID-19 interrupted these trends when the pandemic emerged in March. Inventory held flat during the spring but began…
Read MoreYour Guide to Homeownership Assistance Grants, Loans & Programs
Homeownership Assistance Whether you’re a buyer, a seller (i.e. an investor trying to sell a newly renovated property) then you should become familiar with the programs below. These programs provide down payment assistance, closing cost assistance, grants, loans,…. to help people purchase the homes of their dreams in Chicagoland and Illinois. The programs can save…
Read MoreFHFA Extending Foreclosure &; Eviction Moratoriums through March
Foreclosure & Eviction Moratoriums FHFA Extends Foreclosure and REO Eviction Moratoriums and COVID Forbearance Period Borrowers can now be in COVID forbearance for up to 15 months This is a reprint of a Press Release from FHFA. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the…
Read MoreChicagoland Real Estate Market Starts 2021 Hot
Chicagoland Real Estate Market Starts 2021 Hot The market is moving quickly in the first weeks of 2021, as evidenced by a notable jump in listings under contract. The market saw a 32% week-over-week increase and a 37% year-over-year jump in listings under contract during the second full week of January.
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