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Affordable East Coast, Midwest Housing Markets Have Lowest Economic Risk from COVID-19 Recession

Affordable East Coast, Midwest Housing Markets Have Lowest Economic Risk from COVID-19 Recession

Affordable East Coast and Midwest cities have the lowest overall economic risk in the 2020 recession that began in March 2020. Read More »


COVID-19 Outbreak Now Impacting U.S. Mortgage Industry

COVID-19 Outbreak Now Impacting U.S. Mortgage Industry

According to new data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 27, 2020, U.S. mortgage applications increased 15.3 percent from one week earlier. Read More »

Fast Rising Unemployment in U.S. Greatly Increases Housing Rent Burden

Fast Rising Unemployment in U.S. Greatly Increases Housing Rent Burden

Zillow research is now reporting that American renters who work in food and retail industries can find themselves spending 40% of their annual income on housing costs if they are unable to work for two months Read More »

Coronavirus Slowing U.S. Housing Market, Despite Low Mortgage Rates

Coronavirus Slowing U.S. Housing Market, Despite Low Mortgage Rates

It has been a wild ride for mortgage rates over the past month, which touched record lows then rebounded just as fast. 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 April 1, 2020 9:00 AM ET

Chicago Property News

Given growing U.S. housing market uncertainty caused by the recent Coronavirus outbreak, Zillow Group announced this week it will pause home buying in all 24 U.S. markets where Zillow Offers currently operates in response to local public health orders related to COVID-19.

Sales of newly built, single-family homes fell 4.4 percent to a seasonally adjusted annual rate of 765,000 units in February 2020, coming off a sharp upward revision in January 2020.

The average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 389 counties is 8.4 percent for 2020

As of the date of publishing this story, there have been over 115,000 confirmed Coronavirus cases around the world in 110 countries that are now reporting over 4,000 deaths.

According to the latest quarterly National Association of Home Builders' Home Building Geography Index, nearly two-thirds of multifamily construction in the fourth quarter of 2019 occurred in "blue counties" where Hillary Clinton garnered the most votes in the 2016 election.

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 3.45 percent in late February 2019.

Over 1.52 million U.S. single-family homes and condos in the United States are vacant, representing 1.5 percent of all homes.

U.S. builder confidence in the market for new multifamily housing remained unchanged in the fourth quarter of 2019.

Sales of newly built, single-family homes rose 7.9 percent to a seasonally adjusted annual rate of 764,000 units in January, coming off an upward revision in December 2019.

U.S. home price growth slowed considerably throughout most of 2019, with some pick-up in price in growth toward the end of the year.

According to the latest National Association of Home Builders/Wells Fargo Housing Market Index, U.S. builder confidence in the market for newly-built single-family homes edged one point lower to 74 in February 2020.

Freddie Mac's latest Primary Mortgage Market Survey is reporting this week that the 30-year fixed-rate mortgage in the U.S. was the lowest in three years. As rates fell for the third consecutive week, markets staged a rebound with increases in manufacturing and service sector activity.

International property consultant CBRE is reporting this week that global commercial real estate investment volume in Q4 of 2019, including entity-level deals, was nearly level (-0.5%) with Q4 2018, while full-year volume fell by 2% from 2018.

Mortgage applications increased 5.0 percent from one week earlier. The previous week's results included an adjustment for the Martin Luther King Jr. holiday.

The National Association of Home Builders' latest 55+ Housing Market Index is reporting this week that U.S. builder confidence in the single-family 55+ housing market dropped four points to 68 in the fourth quarter of 2019.

According to the National Association of Realtors, pending home sales in the U.S. fell in December 2019, taking a step back after increasing slightly in November 2019.

According to new data from The American Institute of Architects, U.S. demand for design services in December 2019 increased for the third month in a row.

According to new research by Zillow, the total value of every home in the U.S. is $33.6 trillion, nearly as much as the GDP of the two largest global economies combined -- the U.S. ($20.5 trillion) and China ($13.6 trillion).


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