Real Estate
Chicago Area Home Prices Fall
New data released this week shows Chicago area home prices fell 0.8 percent in February.
In February, Chicago-area home prices dropped for the sixth straight month according to new data released this week by S&P/Case-Shiller.
The data reflects single-family home prices fell 0.8 percent in February compared with January.
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However, Chicago area home sales prices were up 5.1 percent compared with Feb. 2012, which is the second smallest year-to-year increase after New York in a 20-city index provided by S&P/Case-Shiller, reported Crain's Chicago Business.
“Home prices continue to show solid increases across all 20 cities,” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “The 10- and 20-city composites recorded their highest annual growth rates since May 2006.”
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Barrington home prices dropped 35.8 percent from 2006. Prices were down 17 percent in 2012 compared to 2011.
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