Data current as of March 6, 2023
According to a recent National Association of Home Builders/Wells Fargo Housing Market Index (HMI) survey, building material prices were the most significant issue for US homebuilders last year, with 96% of builders reporting that building material prices were a problem. Availability of building materials and cost and availability of labor also ranked among the largest problems builders faced in 2022, along with rising inflation and higher interest rates, both of which remain top concerns this year for the majority of builders surveyed.
SINGLE-FAMILY DETACHED
For the week ending February 25:
New Listings decreased 17.7% to 284
Under Contract Sales decreased 25.5% to 184
Inventory increased 10.0% to 2,228
For the month of January:
Median Sales Price decreased 10.3% to $260,250
Market Time increased 21.3% to 74
Percent of Original List Price Received decreased 2.5% to 94.2%
Months Supply increased 38.1% to 2.9
SINGLE-FAMILY ATTACHED
For the week ending February 25:
New Listings decreased 40.3% to 435
Under Contract Sales decreased 33.7% to 339
Inventory decreased 26.4% to 3,096
For the month of January:
Median Sales Price decreased 0.4% to $332,500
Market Time decreased 13.9% to 93
Percent of Original List Price Received decreased 0.2% to 95.8%
Months Supply decreased 4.3% to 2.2
Current as of March 6, 2023. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2023 ShowingTime.