It’s what thousands of families across the Chicago area have been waiting to hear: home prices and home sales are both up. Those are two encouraging signs that the housing market is rebounding in Chicago.
Illinois is bucking the trend, posting positive home sale numbers in the face of dismal national numbers.
Good news for local home buyers; the Chicago area has just been named the top real estate market in the country for buyers.
The Chicago and Illinois housing markets got a vital shot in the arm on Thursday, as March figures revealed existing home sales shot up significantly. Median prices also went up in Chicago, ending a long streak of declines.
Home prices in the Chicago area rose 1.9 percent in July from June—the third straight monthly increase.
The latest figures from RealtyTrac show that in Illinois and nationwide, foreclosed homes now account for about a third of all home sales.
Fourteen people have been arrested in three separate alleged mortgage fraud schemes involving four homes in the Englewood neighborhood.
What used to be the primary asset in a divorce – the home – has in many cases become a liability. CBS 2’s Kristyn Hartman reports.