According to the latest report from CoreLogic, home prices in the Chicagoland area are up 3.3 percent this year.
The report, which compared pricing year-over-year in June included distressed sales. When those sales are removed the news is even better, with a 4.3 percent increase.
Anand Nallathambi, the president and CEO of CoreLogic, told Chicago Agent Magazine: “The current cycle of home price appreciation is closing in on its fourth year with no apparent end in sight. Pent-up buying demand and affordability, together with higher consumer confidence buoyed by a more robust labor market, are a potent mix fueling a 6.5 percent jump in home prices through June with more increases likely to come.”
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