Data current as of February 6, 2023
U.S. housing starts declined in 2022, as homebuilders scaled back production due to high construction costs, affordability challenges, and a pullback in buyer demand. According to the U.S. Census Bureau, 1.55 million homes were started last year, a 3% drop from the previous year, and the first annual decline since 2009. However, housing completions increased, with 1.39 million homes completed in 2022, a 3.8% increase from the previous year, when 1.34 million homes were completed.
SINGLE-FAMILY DETACHED
For the week ending January 28:
New Listings decreased 3.3% to 265
Under Contract Sales decreased 12.6% to 195
Inventory increased 15.4% to 2,372
For the month of December:
Median Sales Price decreased 6.6% to $275,500
Market Time increased 24.5% to 66
Percent of Original List Price Received decreased 2.5% to 95.1%
Months Supply increased 27.3% to 2.8
SINGLE-FAMILY ATTACHED
For the week ending January 28:
New Listings decreased 35.2% to 403
Under Contract Sales decreased 26.4% to 323
Inventory decreased 22.3% to 3,167
For the month of December:
Median Sales Price decreased 13.0% to $298,500
Market Time decreased 13.8% to 81
Percent of Original List Price Received decreased 0.2% to 96.0%
Months Supply decreased 4.3% to 2.2
Current as of February 6, 2023. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2023 ShowingTime.