Chicago
Real Estate News

New Home Mortgage Applications Dive 8.8 Percent in June

New Home Mortgage Applications Dive 8.8 Percent in June

U.S. mortgage applications for new home purchases decreased 8.8 percent compared to June 2017. Compared to May 2018, applications decreased by 12 percent. This change does not include any adjustment for typical seasonal patterns. Read More »


U.S. Mortgage Credit Increased in June

U.S. Mortgage Credit Increased in June

According to a new report from the Mortgage Bankers Association, U.S. mortgage credit availability increased in June 2018. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. Read More »

U.S. Buyers Continue to Search for Homes Despite Rising Mortgage Rates

U.S. Buyers Continue to Search for Homes Despite Rising Mortgage Rates

According to U.S. brokerage firm Redfin, few homebuyers are halting their searches in the wake of rising mortgage rates. Read More »

Chicago's Expanding Tech, Financial Jobs Driving Multifamily Sector

Chicago's Expanding Tech, Financial Jobs Driving Multifamily Sector

According to a new Yardi Matrix report indicates that Chicago is living up to its financial hub status and continues to add high-earning jobs, driving multifamily rent growth. Read More »


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Global Property Spotlight

Grand Tetons Wonderland - (Driggs, Idaho)

Grand Tetons Wonderland - (Driggs, Idaho)

Huntsman Springs is golf and club community developed by Jon Huntsman, Sr. A place of serenity and beauty in the hitherto undeveloped Teton Valley of Western Idaho. Read More »

Last Updated July 17, 2018 8:00 AM ET

Chicago Property News

This past week the Council on Tall Buildings and Urban Habitat announced the winners of the 16th Annual CTBUH Awards Program, which competed for winning distinctions at the 2018 Tall + Urban Innovation Conference.

According to AAA, more than 41.5 million Americans will travel this 2018 Memorial Day weekend, nearly 5 percent more than last year and the most in more than a dozen years.

270 Park Avenue in New York City will become the tallest building ever conventionally demolished, as well as the first building over 200 meters in height to be peacefully razed.

A strong rising demand for U.S. net-lease real estate led to $57.8 billion in investment volume in 2017 -- the second-highest annual total since CBRE began tracking 2002.

Major metropolitan office markets across the globe are seeing a significant increase in the adoption of "green" building certification programs.

U.S. commercial and multifamily mortgage bankers closed a record $530.1 billion of loans in 2017.

Over 64 million Americans live in multigenerational households, which is based on a report by the Pew Research Center, Washington, D.C.

According to Zillow, U.S. home values have been appreciating more per working hour than local minimum wage pays in about half of the nation's 50 largest cities.

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate dropped for the second consecutive week in April 2018.

Median home prices in U.S. zip codes in the highest 20 percent for environmental hazard risk appreciated at a faster pace than the overall U.S housing market over the past year.

According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending February 16, 2018, mortgage applications in the U.S. decreased 6.6 percent from one week earlier.

U.S. builder confidence in the single-family 55+ housing market remained strong in the fourth quarter of 2017 with a reading of 71, up 12 points from the previous quarter. This is the highest reading since the inception of the index in 2008.

The National Association of Home Builders reported this past week their NAHB Remodeling Market Index posted a reading of 60 in the fourth quarter of 2017, up three points from the previous quarter and only the second time since 2001 the reading has reached 60.

According to Zillow, the total value of all homes in the United States in early January 2018 is now $31.8 trillion after gaining $2 trillion in 2017. The cumulative value of the U.S. housing market grew at its fastest annual pace.

San Francisco, which has been the nation's least affordable housing market for nearly five years, was supplanted by Los Angeles in the third quarter of 2017.

According to the National Association of Realtors, severely lacking housing inventory levels across the country pinched sales growth and kept home prices rising at a steady clip in nearly all metro areas in the third quarter of 2017.

Nearly 1.4 million (1,367,793) U.S. residential properties (1 to 4 units) were vacant as of the end of the third quarter of 2017 -- representing 1.58 percent of all U.S. residential properties.

According to CBRE, Tokyo, New York and Los Angeles are the world's largest commercial real estate investment markets, with the global stock of investable commercial real estate assets standing at $27.5 trillion.


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