“It’s like a country-western song: They’re out of cash, out of credit and out of time.”
– Steve Murray, owner of the publishing / consulting firm REAL Trends, on third straight year of declines for Chicago’s top residential brokerages. Coldwell Banker NRT, Baird & Warner, @properties, and Koenig & Strey GMAC Real Estate had a combined 39,509 closings valued at $14.74 billion in 2008, compared with $34.31 billion from 48,721 closings in 2007 and $22.36 billion from 57,935 closings in 2006, according to Crain’s.
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