Chicago Real Estate Market Update: Home Sales Flat

Despite some real hopeful signs in January that the Chicago real estate market might be picking up some steam February was basically a dud. Now, technically, February home sales were 5.5% higher than last year but that's with an extra day in February this year - it's leap year, remember? If we adjust the sales number down by 28/29 then sales were actually down by about 1.5%.

In 2 weeks the Illinois Association of Realtors will release their figures, which will show a smaller 2.1% increase over last year, not because of leap year but because of the flawed methodology they use to compare sales figures with the previous year.

In the graph below I show the monthly Chicago home sales going back to January 1997 with all the Februaries flagged in red for easy comparison. As you can see there has only been marginal improvement over the last 4 years in the February sales figures, despite the fact that this February had the highest sales in 9 years and was even higher than 2013, which was a really strong year.

Read Full Story: Chicago Real Estate Market Update: Home Sales Flat

Digital Marketing for Small Business

Share on Google Plus