Most of the local industry got caught flat-footed in 2020, with little product in the pipeline because sales had been dismal for a decade. Dennis RodkinCrain’s Chicago BusinessOctober 19, 2022 A couple of years ago, a national homebuilder exited the long-sluggish Chicago market, selling its 232 suburban lots to another firm and telling Crain’s it […]
Tracy Cross & Associates, Inc.2nd Quarter 2022 The Chicago metropolitan region witnessed a retrenchment in new home sales during the first half of 2022 with builders reporting 2,682 contract signings during the January-June period, a decrease of nearly 16 percent from the 3,185 units sold during the same timeframe in 2021. At the current pace, […]
Buyers are paying more per square foot than ever. Dennis RodkinCrain’s Chicago BusinessJuly 28, 2022 Buyers paid a little over $508,000 for this newly built four-bedroom house on Ivy Lane in the Tall Oaks subdivision in Elgin. The price of new Chicago-area homes reached a record in the second quarter, pushed up by short supply […]
One of the biggest real estate trends—building single-family houses and townhomes for rent—is coming to Oswego, where a Texas developer is getting started on a 178-unit project. Alby GallunCrain’s Chicago BusinessJune 20, 2022 A Texas developer has scored a $66 million construction loan for a rental townhome project in Oswego, a housing type that’s popping […]
The price increases since early 2021 are the biggest in at least 15 years, a response to both demand and the rising costs of supplies and labor. Dennis RodkinCrain’s Chicago BusinessMay 02, 2022 Prices of new houses in the Chicago area rose by an average of $50,000 in the past year, largely because of voracious […]
New-home sales have surged in each of the past two years in the Chicago area, despite prices that have also been rising fast. Dennis Rodkin Crain’s Chicago Business February 10, 2022 Jolted out of a decade-long doldrums by a housing boom the pandemic ignited, Chicago-area builders sold more newly built homes last year than in […]
A lack of supply is the culprit, a housing analyst says. Dennis Rodkin Crain’s Chicago Business November 01, 2021 The pandemic put a bounce into sales of new homes in the Chicago area, but builders haven’t been able to keep up with demand, according to a new report. Homebuilders sold 1,067 new houses, townhouses and […]
Prices were up about $45,000, according to a consultant’s survey, but one homebuilder says that’s all taken up by the fast-rising cost of materials. Dennis Rodkin Crain’s Chicago Business August 5, 2021 Local new-home sales in the Chicago area lost much of their early 2021 vigor in the spring, largely because prices jumped as building-material […]
High demand and rising lumber costs mean buyers are paying tens of thousands of dollars more for newly constructed homes. Dennis Rodkin Crain’s Chicago Business May 04, 2021 New home sales, like virtually every other part of the housing market, were buoyant in the first quarter of the year in the Chicago area. More […]
Sales in Chicago dropped to their lowest in 25 years in 2020 while climbing to a 12-year high in the suburbs. Dennis Rodkin Crain’s Chicago Business February 02, 2021 This new four-bedroom house on Cedarwood Lane in the Cambridge Lakes development in Pingree Grove sold for just under $324,000 in December. Sales of new-construction homes […]