Urban Real Estate

Home Prices Rise Locally, Nationally

Home Prices Rise Locally, Nationally

Good news for homeowners in this month's S&P Case-Shiller Home Price report: Chicagoland home prices continued the summer's positive momentum, up .5 percent from July through August and up 4.1 percent since August 2015. The last time the annual increase was that high was in July 2014.

Additional good news is that Chicago's home prices have beaten other major cities for the past several months, indicating the local market is gaining strength.

Nationally, prices rose 5.3 percent year-over-year.

Read more at Crain's here.

On the national scene, the housing market offered few surprises:

  • The National Home Price NSA Index, which covers all nine U.S. census divisions, rose 5.3 percent year-over-year in August, up from a 5 percent gain in July.
  • Meanwhile, the 10- and 20-City Composites, which focus on specific metro areas, rose 4.3 and 5.1 percent, respectively; like the National Index, both composites were stronger in August than in July.
  • Portland (up 11.7 percent), Seattle (11.4 percent) and Denver (8.8 percent) posted the strongest yearly increases in the country.
  • On a monthly basis, the National Index was up 0.5 percent, while both composites rose 0.4 percent.