Chicago’s Case-Shiller Index for July 2010 rose 1.0% from June extending the 3 previous months of increases. Between May and June it rose 2.5%. The Chicago index is down 1.7% from July 2009. 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 was essentially flat rising just 0.1% from June. From May to June it rose 1.6%. The condo index is down 4.4% from July 2009.
Last month I wrote that given that there was a 25% drop in the number of sales in the Chicago Metro Area in July I expected a drop in the indices. I am happy to have been wrong!
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