Chicago Home Sales Up for 6 Months! (and Other Good News)

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JPMorgan Top Exec Cuts $1 Million of Chicago HomeWell, good news for everyone except JPMorgan CEO Jamie Dimon. Here's what's happening: Reversing consecutive weeks of mostly dismal housing news, Chicago got word this week that home sales leaped 45 percent in March compared to last year. However, median home prices continue to fall.

This marks the sixth straight month of home-sale increases for the Chicago area, but experts warn that the depressed manufacturing and construction sectors may continue to hinder a speedy housing recovery.

Other headlines that will turn your head: younger Chicagoans are buying for the "long term"; the "second city" is named second in the nation for "fun"; and JPMorgan's chief is forced to slash $1 million off the price of his Gold Coast mansion.
  • Chicago home sales jumped 45 percent in March compared to the same month of the previous year. [Crain's Chicago Business]
  • Falling prices, low mortgage rates and the federal tax credit spurred the jump in home sales. [USA Today]
  • Chicago-area home prices drop more than those in a 20-city index in February, according to Standard & Poor's/Case-Shiller Home Price Index. [Chicago Sun-Times]
  • Are a smarter generation of young Chicagoans buying for the long term? [Chicago Magazine]
  • Chicago is ranked as the "second most fun" city after New York City. [Portfolio.com]
  • JPMorgan's top executive, Jamie Dimon, drops $1 million off the price of his Gold Coast mansion, which makes the new listing price $9.5 million. [Businessweek]
  • A 100-year-old woman, who raised 40 foster kids on her farm, is facing foreclosure and the community is trying to help her save her home. [Chicago Tribune]

See homes for sale in Chicago, Ill. at AOL Real Estate.

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