Chicago, IL (AHN) - Chicago realtor Barbara Marriott reported a slight rise on median house prices in the city and an apparent increase in real estate transactions the past few weeks.
This indicates the real estate market in Chicago "has bottomed out and primed to recover," Marriott wrote in Realty Times.
For the meantime, the Illinois capital city's market will remain steady as foreclosed properties in the Chicago's inventory are sold leading to a positive growth in existing home sales by the second half of 2008.
Friday, April 18, 2008
Sunday, April 6, 2008
Chicago Foreclosure Rate Second Highest Among Top 5 Metros
Chicago's foreclosure rate was higher than New York, Philadelphia and Dallas, but lower than Los Angeles, according to the latest RealtyTrac U.S. Foreclosure Market Report.
One in every 475 households in the Chicago metro area received a foreclosure filing in February, the second highest foreclosure rate among five of the nation’s largest metropolitan areas.
RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.
One in every 475 households in the Chicago metro area received a foreclosure filing in February, the second highest foreclosure rate among five of the nation’s largest metropolitan areas.
RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.
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