Chicago-area new home sales had their biggest spring since 2008 – Crain’s*

Chicago-area builders sold more new homes this spring than they have since 2008, thanks in large part to the paucity of existing homes for sale, according to a new report. It's an increase of nearly 38% from the same time a year ago. “I’m not at all surprised to see this surge,” said Erik Doersching, CEO of Tracy Cross & Associates. “Sales would have been even higher if more developments were open, but supply is constrained because there’s not enough building going on.”