Tuesday, May 8, 2018

Chicago Home Prices are Steadily Declining

(Click on the image to enlarge)

After a steady growth in prices for several months and peaking in May/June-17, Chicago housing market has been trending down. The fact that the monthly median has declined from $250K to $205K in mere eight months is statistically very significant. In fact, if this trend does not reverse itself in (coming) summer months, the term 'significant' will quickly change to 'free fall.'

The normalized trend (bottom graph) is in tandem as well, exhibiting a linear drop from $205/SF to $169/SF.

Hey Chicago: you need a quick trend reversal to remain healthy!

Note - This analysis covers City of Chicago, not entire Cook County.

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1 comment:

  1. One more reason why people are leaving Chicago and Illinois!!