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Slowdown in Home Price Growth Comes to Chicago
Chicago home price increases have begun to lag after nearly a year of steadiness amid declining annual gains nationally. The latest S&P Dow Jones CoreLogic Case-Shiller Indices, reflecting January data, showed annual price growth of 2.4% for the Chicago region, off 0.5% from the previous month. That compares to a 0.2% monthly decline in growth on a national level.
Just two markets in Case-Shiller’s 20-city composite tracked lower than Chicago for annual pricing gains, according to data released Tuesday. Ironically, both were West Coast cities that in recent years had averaged better than 5% year-over-year growth: San Diego with a 1.3% increase and San Francisco with 1.8%.
Of the markets in the 20-city composite, only Las Vegas posted double-digit annual pricing increases for January. Three others—Charlotte, Minneapolis and Phoenix—rose above the 5% mark.
Nationally, “home price gains continue to shrink,” said S&P Dow Jones Indices’ David M. Blitzer.
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- ◦Economy
