It’s Case-Shiller Tuesday, and the results are in for April home price trends.
The not-seasonally adjusted index for metro-area Chicago single-family homes fell .4% from the previous month and dropped year-over-year by 8.56%. This places the current index just below price levels prevailing in April of 2001.
The condo index increased month-over-month, by 2.49% but fell sharply year-over-year, by 15.75%. That index is now at May 2000 levels.
The seasonally-adjusted numbers showed similar year-over-year declines, falling 8.43% for single-family homes and 15.65% for condos. The month-over-month decline was .31% for single-families, while condos rose 2.76%.