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A home for sale in Elgin, Aug. 24, 2010. (Stacey Wescott/Chicago Tribune)
January home prices fell for the sixth month in a row, approaching lows reached in the depths of the recession in 2009.
The Chicago area fared worse than the national average, with the local index reaching its lowest level since 2001. The index for Chicago-area single-family home prices fell 7.5 percent from the year-ago period, and dropped 1.8 percent in January from December. Get the full story »
Signs advertising homes for sale in Naperville in August 2010. (Chuck Berman/Chicago Tribune)
Home prices in the Chicago area in December hit a new low since the housing market’s peak in 2006, falling 30 percent to levels not seen since March 2002, according to a widely-watched housing index released Tuesday morning.
The Standard & Poor’s/Case-Shiller Home Price Index showed that Chicago was one of 11 markets in December that hit their lowest level since home prices peaked, which locally was in September 2006.
In the Chicago market, according to the index, December home prices slipped 1.4 percent from November, slightly less than the 2.2 percent drop in November. On a year-over-year basis, Chicago-area prices were down 7.4 percent. “Chicago’s been surprisingly weak,” said Karl Case, a professor emeritus of economics at Wellesley College and one of the economists who created the index. Get the full story »
Home prices in Chicago fell to their lowest level in November since local prices peaked in September 2006, according to a widely watched index.
In the Chicago area, prices were just slightly lower than where they were in March 2010, and that was in line with prices in the spring of 2002, according to the S&P/Case-Shiller Home Price Index. Prices fell 2.2 percent in November from October, and were down 7.6 percent from November 2009. Get the full story »
Prices of single-family homes in September fell more than twice as fast as expected from the prior month, while prices compared to a year earlier rose more slowly than forecast, according a widely watched index of U.S. home prices released on Tuesday. Get the full story »
Home prices in the Chicago area eked out a sixth consecutive month of ever-so-small improvement in August, putting them on par with the market’s health in early 2003, according to the widely watched Standard & Poor’s/Case-Shiller Home Price Indices, released Tuesday. Get the full story »
(Reuters)
Single-family home prices dipped in July, hovering above multi-year lows absent the homebuyer tax credit that ended in April, according a Standard & Poor’s/Case-Shiller home price report on Tuesday.
The home price index for the Chicago area rose a modest 1 percent in July after a 2.5 percent gain in June.
High U.S. unemployment and millions of foreclosed homes and distressed borrowers keep stalling a home price recovery, overshadowing high affordability and record low mortgage rates, economists agree. Get the full story »
Home prices in the Chicago area rose for the third straight month in June, raising them up to a level equivalent with a year ago, new data released Tuesday shows.
While Chicago’s one-month price gains were greater than many of the cities in the S&P/Case-Shiller Home Price Indices, national economic trends are likely to temper future home price appreciation, economists said.
“It’s a mixed bag,” said Yale economics professor Robert Shiller, “Corporate profits are still strong, inventories are low and that’s supposed to be a positive indicator. But confidence is a major driver of the economy. What really bothers me is the very high level of long-term unemployment.” Get the full story »
Single-family home prices unexpectedly climbed in April from March, driven by a final sales push before tax credits expired, but signs of a sustained recovery have yet to emerge, Standard & Poor’s/Case Shiller home price indexes showed on Tuesday.
In the Chicago area, April home prices were relatively flat, rising 0.6 percent since April but still down 1.6 percent form April 2009. Area home prices are at levels similar to what the market saw in May 2002. Get the full story »
