Just released this morning, the Standard & Poor’s Case-Shiller Housing Index for the Chicago Metro Area for June rose for the second month in a row. The June index rose 1% from the May index, 0.5% seasonally adjusted. The increase for the May index was the first month to month increase in the index since June 2008.
The June 2009 index is down 16.7% from June 2008.
Two months of a rise in the index is not enough data to determine if single family (house) prices have bottomed, but it is certainly positive news!
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That’s great news! There are lots of really nice deals out there.