Very short positive article in Crains this morning.
Chicago-area home prices keep climbing
October 29, 2013
Chicago-area single-family home prices were 8.7 percent higher in August compared with the same month last year, the 10th straight year-over-year increase in a closely watched index.
Chicago-area prices rose 1.6 percent in August compared with July, according to the S&P/Case-Shiller indices released today.
The 20-city index rose even more than Chicago year-over-year, up 12.8 percent compared with August 2012, according to the indices.
“Both composites (10- and 20-city) showed their highest annual increases since February 2006,” David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement. “All 20 cities reported positive year-over-year returns.”
His statement noted that while all 20 cities rose in August compared with July, “most cities showed deceleration compared to July.” For example, Chicago-area prices rose 3.2 percent from June to July.
In the 20-city index, prices rose 1.3 percent from July to August.
On a seasonally adjusted basis, prices rose 0.1 percent from to July to August in the Chicago area and 0.9 percent in the 20-city index.
Local prices are down about 24 percent from their peak in September 2006, according to S&P/Case-Shiller data.