Chicago’s Case-Shiller Index for May 2010 rose 1.2% from April. The monthly increase was even stronger than the rise from March to April of 0.6%. The Chicago index is down 1.5% from May 2009. The index is based on resales of houses in the Chicago Metro Area. It’s published with a 2 month lag.
Case Shiller Indices for Chicago May 2009 to May 2010
The Chicago Case-Shiller Condominium Index rose 2.7% from April to May, following March to April’s increase of 5.2%. The condo index is down 5.2% from May 2009.
Two months of increases are nice to see, but as I mentioned last month, don’t expect the rises to signal a turn-around in the Chicago real estate market. Prices were helped by the rush of buyers who qualified for tax credits.
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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
