Home Appreciation in Chicago Ranks 2nd in Nation

Posted by Helaine Cohen on Wednesday, June 29th, 2016 at 6:52pm.

Some positive news for Chicago-area homeowners, as home appreciation in the area recently ranked second in the entire nation in recent months. In comparing March to April 2016, the Case-Shiller Home Price Indices found that Chicago was number two when it came to the highest growth in home prices.

During that time period prices grew by 2-percent, slight less than the 2.1-percent that homes in Seattle experienced, yet well more than a majority of other major metro areas. Nationwide the country only experienced 1-percent. When adjusted seasonally, though, the National Index ended up a mere 0.1-percent.

Experts point to a positive economy during this time, including low mortgage rates and low unemployment. Still though, there is some concern about potential risk and uncertainty due to things happening around the world as well as the upcoming U.S. presidential election.

When comparing year-over-year, Chicago came in a 3.1-percent, on the lower end of the scale. In that category Portland, Seattle and Denver all ranked much higher than Chicago, with an overall U.S. year-to-year average change of 5-percent.

Helaine Cohen, Chicago Real Estate Broker

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