I was afraid this would happen.
In the midst of a Chicago residential real estate market that's doing poorly, I've noticed the local news media is now reporting home prices, and "core" home prices- meaning the removal of foreclosure and short sale transactions from the formula used to arrive at such prices.
Mary Ellen Podmolik wrote on the Chicago Tribune website yesterday:
Sales of distressed homes continued to weigh heavily on the Chicago area's housing market in August and caused local homes prices to decline 2.5 percent from a year ago, according to a report issued Tuesday.
Compared to July, home prices slipped 1.7 percent, housing data provider CoreLogic said…
However, the pricing picture looks better when foreclosure and short-sale transactions are removed from the equation. CoreLogic said Chicago-area home prices of non-distressed properties rose 1.5 percent from a year ago and 1 percent from July.
[...]
More: http://survivalandprosperity.com/2012/10/03/chicago-news-media-reporting-core-home-prices/
No comments:
Post a Comment