Tuesday’s Case-Shiller index release showed the Chicago region posted some gains in home prices, but not at the same level as the 10- or 20-city indices:
Despite a pickup nationwide, building permits for housing construction in Chicago remain well below pre-boom levels, according to the latest Census data. The chart above shows a three-week moving average to cut down on noise. The city averaged just 156 multifamily permits and 26 single family permits per month in the last 12 months. The [...]
The FHFA and Case-Shiller indices showed slight decreases in their most recent reporting periods. The indices, which were both released this week, had shown slight increases recently but have largely remained flat over the past year.
The NAHB Homebuilder confidence index rose almost 20% in November and stands at almost double its level at the beginning of 2012.
Two key indices, the Case-Shiller home price index and the FHFA home price index, both show prices rising in the Chicago region. The Case-Shiller index shows prices rising in all three price tiers, as well as for Chicago condominiums.
The city’s condominium market experienced its second consecutive double-digit quarterly increase in sales and price in the three months ending September 30, according to the latest Chicago Housing Quarterly. Sales increased by 11.6% to 5,076 and median selling price increased 10.5% to $237,500.
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