Tracy Cross & Associates, Inc.
1st Quarter 2025
Production homebuilders in the Chicago metropolitan region registered 1,568 new construction home sales during the 1st Quarter 2025, a 10.4 percent increase compared to the 1,420 contracts written during the same three-month period in 2024, and a 30.0 percent jump when cast against the 1,206 units sold during the 1st Quarter 2023. Overall, new home sales during the 1st Quarter 2025 reflected the third highest quarterly volume since the pandemic.
On a seasonally adjusted annualized basis, the 5,559 home sales realized during the 1st Quarter 2025 represented an increase of 10.9 percent compared to the 5,014 total sales taken in 2024. In addition, the annualized pace set during the most recent quarter resulted in one of the six best quarterly sales volumes since 2010.
While single family contract activity rose just modestly during the 1st Quarter 2025, sales among townhomes, duplexes, villas, condominiums, etc. experienced a year-over-year increase of 31.2 percent. This jump can be attributed, in large part, to suburban homebuilders adding substantial inventory over the last two quarters, i.e., 32 townhome, duplex, villa and condominium communities entering the market during the last six months. During the 1st Quarter 2025, these 32 new/newer developments combined for 182 sales, representing a 32.9 percent share of the 554 total suburban attached sector contracts written during the quarter.
D.R. Horton led all production homebuilders during the January-March 2025 period with 406 sales, followed by Lennar and Pulte at 354 and 251, respectively. Rounding out the top five were M/I Homes with 221 transactions and Ryan Homes with 85 sales.