the wasserblawg

Three interesting reports from three different sources this week might be of particular interest to local real estate agents. Here is a quick recap of the data, followed by my impressions. FIRST, The Illinois Association of Realtors February market statistics show that, in the city of Chicago, sales fell 40.4% in February, to 841 compared with 1,412 in February 2008, and median price in Chicago also sank to $218,250 from $290,000 in February 2008. The overall sales trends for the larger, nine county region are shown graphically in the second chart on this page posted by Lucid Realty . THEN, the National Association of Realtors , released data yesterday, as summarized in Kelly Evans and Justin Linhart's story in today's Wall Street Journal, that aggregate resales of single-family homes and condominiums climbed 5.1% in February versus January, to an annualized 4.72 Million Units. Roughly 45% of these sales were foreclosures and short sales - distressed properties s...