Increases in softwood lumber prices have raised the average rent apartment tenants would pay on new construction between April 17, 2020, and July 8, 2021, by $92 per month and $9,990 to the market value of a new rental unit, according to a new report by the National Association of Home Builders.
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An estimated three out of four US renters don’t have a dedicated home office space, leading a third of current apartment-seekers to seek out an extra bedroom for remote work. And that translates into about $330 more in rent per month
The U.S. housing market appears to be straining under the weight of its own pandemic-driven success. Recent data shows the sector is returning from the stratosphere and coming back to pre-COVID levels, as evidenced by a slew of data released this week.
As Illinois nears the final steps in the state’s reopening plan, the road to economic recovery is slowly gaining ground. As is the case with other hard-hit gateway markets, Chicago’s rebound is gradually taking shape.
There is tremendous commercial real estate market liquidity, and interest rates are low.
According to every available measure, median home sales prices in the U.S. are at a record high, and they show little signs of cooling off.