Case-Shiller: Home Prices Drop Nationally and in Chicago
The latest Case-Shiller report released this morning showed that home prices fell 0.6 percent nationally between August and September 2011, and that prices dropped by about 3.9 percent since September of last year. In Chicago, the index also reported that home prices fell on both a monthly (+0.8%) and annual (+5.0%) basis.
Case-Shiller September 2011
Between August 2011 and September 2011, area prices increased in the low Chicago price tier (under $160,148), but dropped in the middle tier (homes between $160,148 and $277,746) and the high tier (above $277,746).
From David M. Blitzer, Chairman of the Index Committee at S&P Indices:
“The markets are fairly thin, and the relative lack of closed transactions might be exacerbating the downside. The relative good news is that 14 cities saw improvements in their annual rates of change, versus the six that weakened.”
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This article originally published at http://chicago.urbanturf.com/articles/article/case-shiller_home_prices_drop_nationally_and_in_chicago/4665
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