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.
For more in-depth Chicago Metro Area housing market analysis, sign-up for my monthly email update, “Maximizing Equity”.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
