Institutional investors active in Chicago metro home market

According to data just released by RealtyTrac, institutional investors (defined as those purchasing 10 or more properties in the last 12 months) accounted for 13% of Chicago metro-area home sales in September. Cash purchases accounted for 49% of sales during the month. Short sales and sales of bank-owned properties were 20% and 14%, respectively.

The number of homes sold in the Chicago area in September was 4% higher than in August and 31% higher than in September of 2012. The median price of sold homes was unchanged from August at $190,000, but rose 12% from September 2012.

You can read the full report at RealtyTrac.

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