- advertisement -
Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
Arrow
Chicago
Icon Icon Icon Icon
Thanks goodness Chicago residents had the Bears' Super Bowl berth to be excited about, considering the state of its housing market. After record highs in single-family construction in 2005, home starts declined about 20 percent in the past year. Ingo Winzer expects that above-average home prices and the modest state of the local economy will result in slower price increases in the future.
4th quarter 2006: $268,100
Median price 4th qtr 2005: $265,600
% change: +0.9%
Projected avg price end of 2007: $303,750
Current avg 30-year fixed rate: 5.83%
Current avg 5/1 ARM rate 5.65%
*Affordability rating: 5.8
Foreclosures in Jan. 2006:
(1 for every 988 households)
2,943
Foreclosures in Jan. 2007:
(1 for every 471 households)
6,170
Change in foreclosures: +109.65%
Arrow
Current rate comparison:
» Click here for state vs national rates
Arrow
Key market events
 
Key market map
Dec. '05: Median price $265,600
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price rises 0.9% to $268,100
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007




TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.11%
15 yr fixed mtg 3.22%
5/1 ARM 3.46%
Rates may include points
- advertisement -
- advertisement -
- advertisement -