Chicago Real Estate News
Chicago
Almost 55 Million People to Travel This Thanksgiving Holiday in America
Based on new AAA predictions, 54.6 million people will travel 50 miles or more from home this Thanksgiving holiday in America. That's a 1.5% increase over 2021 and 98% of pre-pandemic volumes. This year is projected to be the third busiest for Thanksgiving travel since AAA started tracking in 2000.
Pending Home Sales in U.S. Post Historic Drop in October
According to national property broker Redfin, pending U.S. home sales fell the most on record in October 2022, while deal cancellations and price cuts hit record highs.
U.S. Home Sales Decline for 9 Consecutive Months in October
According to the National Association of Realtors, existing-home sales retreated for the ninth straight month in October 2022. All four major U.S. regions registered month-over-month and year-over-year declines.
Independent Mortgage Banks in U.S. Lost $624 on Each Loan Originated in Q3
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net loss of $624 on each loan they originated in the third quarter of 2022, down from a reported loss of $82 per loan in the second quarter of 2022.
Chicago Property News
U.S. Mortgage Originations to Decline 9 Percent in 2023 to $2.05 Trillion
Posted on October 24, 2022
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