Need news in a flash? Here’s what’s happening in your community

According to a recent report by Re/Max, the Chicago luxury housing market picked itself back up after a mediocre start in the first few months of the year. As a total, the first two quarters of the year saw luxury sales total 1,179 units throughout the Chicagoland area, including the city and the surrounding suburbs — up from the 1,122 sales in the first half of 2015.

As of June 2016, Illinois’ foreclosure inventory was at 1.2 percent, and its serious delinquency rate was 3.3 percent, both of which are higher than national averages and similar to May’s numbers, according to CoreLogic.

Housing consulting company Metrostudy recently released local-level home start reports for the second quarter, revealing a rise in residential construction in both Chicago and Austin.

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