It’s Case-Shiller Tuesday, and the results are in for October home price trends.
The seasonally-adjusted index for metro-area Chicago single-family homes dipped 1.88% from the previous month and dropped year-over-year by 4.86%. This places the current index just below price levels prevailing in July of 2001.
The seasonally-adjusted condo index also fell month-over-month, decreasing by 1.92% and fell year-over-year, by 7.63%. That index is now at January 2001 levels.
The single-family index and condo index prices declined for the second straight month, following several months of price increases.
The not-seasonally-adjusted single-family index fell 1.76% month-over-month and 4.81% year-over-year. The condo index fell 2.5% month-over-month and 7.65% year-over-year.