Chicago Housing Recovery: Not Until 2013

What do the Indianapolis Colts and the Chicago housing market have in common?

They'll both have to wait at least another year for redemption. But bad news for Chicago's housing market - it may have to wait even longer than the Super Bowl losers.

According to John Burns Real Estate Consulting, an Irvine, Calif.-based company that focuses on home building industry decisions, Chicago-area existing-home sales will rise in 2010 and will reach 95,000 units in 2013. Though encouraging, this falls well below the watermark of 146,082 homes sold in 2005, the zenith of the housing boom.