Chicago apartments image

August 22, 2019 Comments Off on Chicago Home Sales Drop Y-O-Y as Metro Area Inches Up Views: 599 Chicago News, Top Chicago

Chicago Home Sales Drop Y-O-Y as Metro Area Inches Up

Order Reprints...

Home sales in Chicago posted a 5.3% year-over-year decline in July, the Illinois Association of Realtors reported. For the nine-county Chicago metro area, July sales were up 0.2% from a year ago, slightly below the statewide gain of 0.3%.

For Chicago proper, July represented the 11th month out of the past 12 to see an annual decline in sales. However, July’s Y-O-Y drop-off was less pronounced than June’s, which represented an 11.1% drop from a year earlier.

The decline was more pronounced for Chicago condominium sales, which saw a Y-O-Y decline of 7.5% to 1,626 units. Single-family home sales declined 1.5% Y-O-Y.

“The same trends we’ve been seeing in the market lately continue to persist,” said Tommy Choi, president of the Chicago Association of Realtors. “The market is in a stabilizing period. Days on the market remain low and prices are steady, so inventory is moving and demand is there.”

Connect Chicago Fall 2019 will take place Oct. 29 in Chicago. For more information, or to register, click here.

Read more at Illinois Realtors

Connect With Illinois Realtors

Subscribe to Connect Daily Chicago

For comments, questions or concerns, please contact Paul Bubny

Tags: , , ,

Comments are closed.

Send this to a friend