Chicago #1 in the USA in Home Price Growth
Chicago #1 in the USA in Home Price Growth
Chicago’s home prices are rising faster than those in any major U.S. metro area, according to the Case-Shiller Indices.
In November, Chicago-area home values were up 5.7%, the index says. That is #1 out of 20 major metropolitan areas.
In nine of the 19 other cities, prices were down in November, and in another five they rose by less than 0.5%, basically flat.
“The housing market has entered a period of tepid growth,” said Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices. Chicago’s 5.7% increase shows this market “have maintained respectable gains even as overall conditions cool.”
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The more recent December data confirms this growth. In the Chicago metro area, the median price of homes sold in December was $355,000, an increase of 4.4% from the same time a year ago, according to the Illinois Realtors. Meanwhile, the median price of homes sold nationwide was $405,400, an increase of 0.4%, according to the National Association of Realtors. In Chicago proper, the median price of homes sold in Chicago in December was $350,000, up 2.9% from the same time in 2024. Chicago area home prices are showing a resilience that the rest of America cannot muster. Home Sales Flat The year 2025 ended with 89,091 homes sold in the Chicago area, an increase of 0.6% from the year before, according to the Illinois Realtors. The same number of sales as 2024- the year with the fewest homes sold since 2011. High interest rates and prices keep owners from selling, which has kept inventory down to historic lows, which frustrates buyers who could barely afford a home even if they could find it. The only except has been high end luxury sales which began to soar in 2024 and have not stopped.
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