Crain’s: Westchester, Berkeley Among Places That Beat COVID-19 Home Sales Plunge

Wednesday, July 22, 2020 || By Local News Curator || @maywoodnews 

Two suburbs in Proviso Township were listed in a recent Crain’s Chicago Business report as places where home sales avoided the COVID-19-related slump in the first six months of 2020 — a reality that is widespread.

Crain’s “A-list” includes just two of Chicago’s 77 community areas and seven of 166 suburbs, the publication noted — including Berkeley and Westchester.

The publication explained that home sales in Chicago and in suburbs in Cook, DuPage, Lake and Will counties were down 20 percent in the first half of 2020 from the same period last year, according to data released by the Chicago Association of Realtors, Midwest Real Estate Data and Showing Time.

The publication’s “A-list” includes “places where first-half sales in 2020 were higher than first-half 2019, including in June. This is an indication that their strength was not only in the pre-COVID first quarter, but continued to be strong during the pandemic.”

Crain’s attributes that strength to a range of factors, including “low home prices relative to other parts of the region, epochal low mortgage interest rates and possibly a realization that living close to commuter rail won’t be so important if working from home becomes a long-term necessity.”

Read the full article here (warning: possible paywall).

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