Chicagoland Home Prices Rise
Single family home prices in the Chicagoland area rose to 4.5% from April to May reported via The Standard & Poor's Case-Shiller index. Prices here were up 1.2 percent from March to April, the indices showed. This is the highest increase among 20 metro areas the report tracks.
A 20-city composite price index increased 2.2 percent from April to May, according to the report.
“We have observed two consecutive months of increasing home prices and overall improvements in monthly and annual returns; however, we need to remember that spring and early summer are seasonally strong buying months so this trend must continue throughout the summer and into the fall,” David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement.
“June data for existing home sales, new home sales, housing starts and mortgage default rates were a bit mixed, but all are better than their year-ago levels. The housing market seems to be stabilizing, but we are definitely in a wait-and-see mode for the next few months,” Mr. Blitzer said.
Both the Chicago-area and 20-city increases were the second straight rises after seven months of declines.
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