Case-Shiller Index for Chicago rises for 3rd month in 2010

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

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 Fran Bailey is a Realtor who has been quoted in numerous Chicago and national publications. To schedule showings for any listings, get a free market analysis for your home or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More

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