About the Chicago, Illinois Real Estate
For the city of Chicago, $225,600 is the house worth median. 2.1 percent is the amount the value of houses has increased in the last year. There is a prediction that in the following year, the value of homes will increase by 6.1 percent.
$248 is the per square foot list https://rapidloan.net/payday-loans-ga/ cost median in the city of Chicago. The Metro Area of Chicago-Naperville-Elgin has a per square foot list cost average which is quite a bit lower. It is $166.
For houses listed presently in Chicago, the median cost is $324,900. Regarding homes that have been sold, $279,300 is the median cost.
The foreclosure rate is an important factor when it comes to the real estate economy as well as the economy of the United States. The lower the foreclosure rate, the higher the value of homes.
Regarding the process of foreclosure, mortgage delinquency is the first thing that occurs. Mortgage delinquency is the condition of a homeowner skipping a payment on their house mortgage.
2.0 percent of homes in the city of Chicago have mortgage delinquencies. The United States has a lower mortgage delinquency rate of 1.6 percent.
Mortgage delinquencies are a serious matter for banks. Continue reading “This can threaten the existence of banks and the livelihood of bank staff”