Wednesday, April 23, 2008

Chicagoans fair better than the rest of the US in March

Chicago homeowners were immune to the downturn in the real estate market that plagued the rest of the US in March.  The median price of single-family homes and condominiums in the city increased 5.3%, to $300,000, from a year ago. 

Sales remained slow.  They were off 11.5% from a year ago, to 2,045 sales compared to March, 2007.

Nationwide, homes sales fell 19.3% in March as prices declined by 7.7%.