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.
Chicago's Case-Shiller Indices June 2009 to June 2010
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.
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ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale. Fran has been quoted in numerous Chicago and national publications. To schedule showings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
