As one of the markets taking its time to come out of the housing crash, the light seems to be getting brighter at the end of the tunnel for the Chicago real estate market. According to a recent report released by Dodge & Data Analytics, residential construction in Chicago increased in June and for the first part of the year compared with numbers seen the year prior.
- Nonresidential construction dipped 25 percent in June compared with the same month the previous year and for year-to-date figures.
- Residential construction increased 43 percent annually in June and 54 percent for year-to-date figures.
- The fall in nonresidential construction balanced out the increase in residential construction activity, showing no annual change in June for total dollar volume.