Morning Minute: Luxury home sales on the rise in Chicago

The Wall Street Journal reports this morning on a new analysis from Coldwell Banker that finds luxury home sales in the Windy City — particularly those selling for more than $5 million — are seeing an uptick in activity. Though the market is hindered by lower inventory in some premium neighborhoods, sales have been improving, according to the report.

“We had such a rough 2009, and all of a sudden, it feels like we’re back,” Coldwell Banker REALTOR® Craig Hogan said.

In other news:

Apartment vacancy rate falls to lowest level since 2001- Chicago Tribune

Decatur-area home sales on upswing: programs help first-time buyersBusiness Journal of Midcentral Illinois

Tinley Park, Orland Park homes standing strong despite housing crisisChicago Tribune

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.