Chicago’s Case-Shiller Index for April rose 1.1% from March. While the rise is a welcome change from the 7 previous months of decreases, it was to be expected given the previous pattern of the index.
During the past 3 years the index has been falling, but has always managed to rise for a few months starting in April or May. Housing prices typically rise in the Chicago area during the spring market.
The index is down 5.6% from April 2011. It’s back to its May 2000 level. The Case-Shiller Index for Chicago 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 for April rose 0.7% from March. It too typically rises in the spring. The condo index is down 6.5% from April 2011. It’s back to its October 1999 level.
For more market statistics see Chicago Real Estate Market.