Chicago’s Case-Shiller Index for June 2010 rose 2.5% from May. The monthly increase was even stronger than the rise from April to May of 1.2%. The Chicago index is basically back to its June 2009 value, down just 0.1%. The index is based on resales of houses in the Chicago Metro Area. It’s published with a 2 month lag.
The Chicago Case-Shiller Condominium Index rose 1.6% from May to June following April to May’s increase of 2.7%. The condo index is down 4.0% from June 2009.
Prices for June sales were helped by the last rush of buyers who qualified for tax credits. Given that there was a 25% drop in the number of sales in the Chicago Metro Area between July 2009 and July 2010, I don’t expect the indices to rise for July.
For in-depth Chicago Metro Area Real Estate market analysis, sign-up for my monthly email update, “Maximizing Equity“.
Recommend this on Google