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Chicagoland Home Sales Down 20.5% in 2007

The December numbers for the Chicago metro area are out.  From Crain’s:

Chicago-area home sales fell 33.2% in December, according to the Illinois Assn. of Realtors.

In the nine-county Chicago Primary Metropolitan Statistical Area, home and condominium sales in December totaled 5,033, compared with 7,530 in the same month of 2006.

For the year, home sales in the Chicago region dropped 20.5% from 2006, the association said Thursday in a news release.

This is an apples to apples comparison of what is happening now in the market.

The “buying season” traditionally begins after the Super Bowl.

This entry was posted on Friday, January 25th, 2008 at 6:10 am and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Chicagoland Home Sales Down 20.5% in 2007”

  1. It’s getting ugly fast. I would expect 1 year from now will be very interesting for potential buyers.

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