City new-home sales have slowed, but no bubble on horizon

Gail LissnerPontificating about a possible housing bubble seems to be everyone’s favorite pastime these days, which makes hard numbers all the more valuable. Housing analyst and New Homes Magazine columnist Gail Lissner, of Appraisal Research Counselors, puts Chicago’s market for new homes in perspective in her March column. Her conclusion? While city sales have slowed and there is an immense amount of product in the pipeline, 2006 was a banner year for new-home sales. Around 4,700 new units sold in downtown Chicago, a drop of less than 10 percent from the record number of new units sold during 2005.

Read more in “Housing watch.”

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