Inside these posts: Exisiting home sales

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Homeownership at lowest level in a decade

(AP Photo/Paul Sakuma)

The nation’s homeownership rate is at the lowest level in more than a decade, hampered by a rise in foreclosures and weak demand for housing.

The percentage of households that owned their homes was unchanged at 66.9 percent in the July-September quarter, the Census Bureau said Tuesday. That’s the same as the April-June quarter.

The last time the rate was lower was in 1999, when the rate was 66.7 percent. Get the full story »

Chicago-area home sale up 35% in 2Q

Chicago-area existing home sales jumped 34.7 percent during the second quarter, compared to a year ago. The median home price for the area dropped 2.5 percent from a year ago, to $196,000.

The Illinois Association of Realtors also reported Wednesday that the only Chicago-area county to report an increase in sales as well as the median price was Lake County, where sales rose 38.1 percent and the median price of $202,000 was a 3.6 percent gain over the comparable 2009 period. Get the full story »

Chicago existing home sales mark year of growth

June marked a year of monthly positive year-over-year sales of existing homes in the Chicago area, leading some in the industry to conclude the market is finally stabilizing. But will the trend continue?

Home sales in the Chicago area rose 27.2 percent in June, to 9,085 single-family homes and condominiums sold during the month. The median sales price change still was in negative territory, however, falling 1.2 percent to $207,500, from $210,000 in June 2009, the Illinois Association of Realtors reported Thursday. Get the full story »

A third of Illinois home sales distressed property

Distressed properties accounted for just over one-third of all residential sales in Illinois during the first three months of 2010, according to new data to be released Wednesday.

More than 8,400 distressed properties sold in Illinois during the first quarter, and the state recorded some of the highest discounts for bank-owned properties in the nation, said a report by RealtyTrac, an online marketplace that tracks foreclosed properties. Get the full story »