Chicago Housing Market Continues To Deteriorate

As you know, I don’t sugar coat the real estate news so here it is. The housing market in Chicago is still on the decline. We’ve had a couple of different statistics released in the last 2 days that show that both home prices and sales volumes are continuing to decline.

  • The Case Shiller index for December came out yesterday
    • Home prices are back to December 2003 levels
    • Prices are down 14.3% in the last year
    • Prices are down 18.6% from the peak
  • The Illinois Association of Realtors released their sales statistics for January and it shows that home sales are down 24.4% from 2008, which was down from 2007, which was down from 2006.

You can always find these and other statistics along with charts on our Chicago Real Estate Statistics page.

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