Chicago Home Prices Hit Lowest Level In 11 Years

By Gary Lucido, today at 8:59 am

It was all but certain that today’s release of the January Case Shiller home price index for Chicago was going to show continued declines and hit a new record low. And now that we have the numbers we can see just how bad it is – for sellers.

With an additional 1.9% decline for single family homes and a 2.6% drop for condos the Chicago market hit a record low in the last 11 years. The last time single family home prices were this low was January 2001 and condo prices are the lowest since February 2000. This is officially a quadruple dip.