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Single-Family Home Prices Leveling Out In Chicago, Study Says

By Tanveer Ali | October 25, 2017 5:30am | Updated on October 27, 2017 11:33am

DOWNTOWN — After seeing increasing single-family home prices in Chicago in recent years, the price of single-family homes leveled off in the first half of 2017, according to a study.

DePaul's Institute of Housing Studies released the latest numbers in its Cook County House Price Index Wednesday showing that citywide prices are up just 5 percent during the first six months of 2017 compared with 2016.

The previous release, six months ago, saw house prices jumping 8 percent year over year.

The study does not include prices for condos, which dominate Downtown, South Loop and West Loop markets, which cannot easily be compared to single-family homes, researchers said.

The study measures single-family home prices across the Chicago area by looking at how much the prices have changed since 2000, as well as comparing them to prices a year ago, to 2008 when the housing market collapsed, and before 2008 during the housing bubble.