Luxury homes like this are plentiful in many markets, but many struggle to find buyers.
CHICAGO—The Chicago-area housing market has split into two, according to a new analysis by RE/MAX Northern Illinois Region. The sales of modestly-priced homes slowed down considerably in August, while the purchasing of luxury homes accelerated.
Sales totaled 11,421 homes, a decline of 0.7% when compared to August 2017, but the number of homes selling for less than $500,000 totaled just 9,953, a 2.6% decline from the prior August. At the same time, the number of homes selling for $500,000 or more rose by 4.4% to 1,468 units.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
