Chicago Real Estate Market Shows Growing Short Term Weakness

Share, follow or like us:

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.”

Read more about the Chicago Real Estate Market Summary

Gary Lucido

Add your Biographical Info and they will appear here.

1 Comment
Rental Property Investment Resources

Chicago home prices continue downward spiral…

January home prices in Chicago fell for the sixth month in a row, approaching lows reached in the depths of the recession in 2009 The Chicago area fared worse than the national average, with the local index reaching its lowest level since 2001. The ind…

Leave a Reply

Your email address will not be published. Required fields are marked *