Chicago Housing Market: Bye-Bye Bottom!
Well, it looks like the long-awaited bottoming-out of home prices has come and gone! Standard and Poor's/Case Shiller index of Chicago-land home prices for August rose for the fourth straight month, suggesting that our area housing market is definitely on the upswing. Local home prices rose 1.7% in August compared to July. The latest index further shows a broad turnaround, with prices rising month-over-month in 17 major metropolitan areas since June.
A few cities, like Las Vegas and Cleveland, did not share in the monthly gains. However, Chicago was a significant leader, with its 1.7% month-over-month gain being the fourth-largest increase among the 20 city index. Only 3 cities…Minneapolis, San Francisco and Detroit…had higher price increases than The Windy City.
Posted at 11:29AM Nov 02, 2009 by Bob Billimack in Market News Comments[0]
