Chicagoland Home Prices Rise - Home Loan Experts with Great Mortgage Rates Serving Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee and Wisconsin

Tuesday, August 7, 2012

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.

This is amazing news for homeowners. If you haven't refinanced your house in the past year or two, now is the time to do so. HIstorically these are some of the lowest rates we have ever seen.

Please click our "Get A Quote" tab above to fill out a quick application. It's secure, no obligation and no social security # is required. You can also speak to one of our loan officers directly by calling 708-531-8388.

Receive Your
Custom Rate Quote

Confirm the information below or call us at 708-531-8388.
Choose One...
Choose One...