Chicago real estate sales down, Orlando real estate declines, Atlanta sales up
Chicago real-estate sales fell in November for the first time in seven years as sales dropped 6% in the first six months of the year, according to a survey released Wednesday.
The Chicago Board of Trade’s survey of real-sale activity by real estate agent Realtor.com found that sales declined by 3.3% in November from a year earlier and the biggest decline in the city since January 2008.
Sales of single-family homes dropped 2.4% to $1.8 billion, according the report.
The biggest decline was for condos, down 1.5%.
In Orlando, sales dropped 5.3%, the largest decline since December 2008.
Sales of single family homes declined 1.7%, the biggest drop since June 2014.
In Nashville, sales fell 1.9%, the smallest decline since June 2018.
Sales were up 0.9% in February, according data from the Nashville Real Estate Board.
The survey showed that Orlando sales were down 2.6% in January, down from 3.6%.
Sales in the Orlando area declined 2.5% in April, the second straight month of declines, the survey said.
Sales in Nashville were down 1% in March, down the biggest quarterly decline since April 2018.
The largest decline was in Chicago, which dropped 5% to a record $2.821 billion, the Realtors.com report showed.
Chicago sales fell by 4.2% from a record high of $2 trillion in March 2017.
Chicago is the biggest U.S. city to lose more than 1% a year since the financial crisis in 2008, the report showed, citing the data from real-equity firm FBR Capital Markets.
Chicago real- estate sales are down 6.3 percentage points from a month earlier, according Realtory.com.
That was the biggest annual decline in seven months, the most since the housing market began a bull market in 2008.