Archive for home affordability

Affording a Home in Chicago: What Does It Take?

Trying to afford a home in the city can feel like trying to keep up with the Joneses. From Atlanta to Los Angeles to Portland, city homes carry high price tags and a lot of pressure. Chicago, however, has been developing a more affordable reputation due to lower mortgage rates and home prices. Chicago’s average [Read More]

May 27, 2013 | Author: admin | Comments: (0) | Categories: Chicago Real Estate News, City of Chicago, Featured, Mortgages, New Homes

Housing Affordability High in Early 2013

Housing affordability in the U.S. was at historic highs in the first quarter of 2013, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released earlier this month. In all, 73.7 percent of new and existing homes sold between the beginning of January and end of March were affordable to families [Read More]

May 24, 2013 | Author: admin | Comments: (0) | Categories: Economy, Economy AOI, Featured

NAHB Urging Congress to Keep Homeownership Affordable

The National Association of Home Builders (NAHB) is urging Congress to maintain its support for vital housing tax incentives, including the Low Income Housing Tax Credit, the mortgage interest deduction and real estate tax deductions, to meet the nation’s growing need for affordable rental housing and homeownership opportunities. U.S. Census data shows that more than [Read More]

May 15, 2013 | Author: admin | Comments: (0) | Categories: Apartments, Chicago Real Estate News, Economy, Economy AOI, Education, Federal Tax Credit, Mortgages

Chicago Real Estate Takes Solid Position in Affordability Study

A recently released study from Bankrate.com reveals that Chicago real estate is in the middle when it comes to monthly homeownership costs with an average of $1,172.46. The study analyzed data for 25 cities within the U.S., and Chicago managed to come in at no. 15 ahead of Philadelphia, Balitmore, Boston and New York City. [Read More]

March 29, 2013 | Author: Mitch Levinson | Comments: (0) | Categories: Chicago Real Estate News, Economy, Economy AOI

Buying a Chicago New Home is Cheaper than Renting

A new study by Trulia reports that purchasing a home is now 45 percent less expensive than renting. The main reason for this? A combination of rising rents and low lending rates. This percentage applies to every single one of the 100 largest metros in the country, which includes the Chicago new homes market. So [Read More]

September 14, 2012 | Author: Jessica Thom | Comments: (0) | Categories: Chicago Real Estate News, Economy, Mortgages, Single Family Homes

If You Can, Now is the Time to Buy a Home

A new report released this week shows that home prices across the country are still falling but home sales are up, because this is the optimal time to buy. According to the National Association of Realtors® latest quarterly report, the median existing single-family home price fell in 111 out of 150 metropolitan areas in the [Read More]

November 12, 2011 | Author: Tracey | Comments: (0) | Categories: Economy

Chicago, State and Nation Home Sales Rise

Metro Chicago real estate sales saw a double-digit, year-over-year improvement last month, as did the Chicago area, the state of Illinois and the country in general. According to the Illinois Association of REALTORS® latest report, the nine-county Chicago metropolitan area sold 7,187 homes in August, which represents a 27.6 percent increase from the number of [Read More]

September 21, 2011 | Author: Tracey | Comments: (1) | Categories: Chicago Real Estate News, Economy
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