IL: Chicago Home Prices Up, But Still Below Last Year

Chicago Real EstateChicago home prices jumped 3.2 percent in June from May — tying with Minneapolis for the largest gain among 20 major metropolitan areas nationwide — but are still 7.4 percent lower than a year ago, a study released Tuesday revealed.

Among the hopeful signs was an increase in condo values of 4.3 percent from May, marking the third straight month of increasing condo prices. But they are still 13.4 percent below their year-ago levels, according to the Standard & Poor’s/Case-Shiller home-price index.

Single-family home prices jumped 6.5 percent in June from May for houses that sold for less than $162,138, and showed a more modest 2.9 percent gain for houses that sold for more than $275,128, the report showed.

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Full Story from The Chicago Sun Times

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