Chicago Real Estate Market Shows Growing Short Term Weakness

In the aftermath of the homebuyer tax credit, Lucid Realty’s August Chicago Real Estate Market Summary shows growing short term weakness but longer term strength.

Chicago, IL (PRWEB) September 20, 2010 –┬áToday, Lucid Realty, Inc. announced the results of its August Chicago Real Estate Market Summary, compiled from 4 different data sources. The real estate market summary contains 7 different indicators of the residential housing market.

“For the fourth month in a row Chicago’s real estate indicators have remained negative. This is the logical consequence of the ill-advised government intervention in the housing market ending. It’s only a matter of time before these negative trends are reflected in lower short term prices”, said Gary Lucido, Lucid Realty co-founder and President. “However, we believe the longer term outlook is still positive, given record low mortgage rates and home prices well below the long term trend line for Chicago.”

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Gary Lucido

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