AgentIndustry News

Chicago in a week: Sept 19-23

This week's Chicagoland news relating to the real estate industry

Need news in a flash? Here’s what’s happening in your community

New research from the National Association of Realtors pointed out the areas of the country where the inventory shortage is most acute. The 10 most affected markets would need anywhere from approximately 55,000 to 218,000 permits to meet the national average:

  • New York City (218,541 permits required)
  • Dallas (132,482 permits required)
  • Houston (55,661 permits required)
  • Atlanta (93,627 permits required)
  • San Francisco (127,412 permits required)
  • Miami (118,937 permits required)
  • Chicago (94,457 permits required)
  • Seattle (73,175 permits required)
  • Denver (67,403 permits required)
  • Phoenix (55,540 permits required)

ValuePenguin recently ranked Illinois cities based on their attractiveness to homeowners, with three major categories considered for the ranking: taxes and insurance, price and jobs and economy. Mahomet ranked in the no. 1 spot, and Edwardsville, Morton, Oblong and Effingham rounded out the top five. The bottom cities included Herscher, Tonica, Momence, Lewistown and Elburn.

Homes have spent less time on the market every month in 2016 compared to the year prior, according to data from The Mainstreet Organization of Realtors (MORe).

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