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