Just released, the Standard & Poor’s Case-Shiller Housing Index for the Chicago Metro Area for July rose for the third month in a row! The July index rose 2.7% from the June index, 2.1% seasonally adjusted. This is also the largest month to month increase in the index so far this year.
Year to date the Chicago index is down 6.4%, 6.9% seasonally adjusted.
The July 2009 index is down 14.2% from July 2008.
Three months of a rise in the index supports the idea that single family (house) prices in the Chicago Metro Area have bottomed, but only time will tell for certain.
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