Zillow; 1/3 of area homes worth less than a year ago

Another bit of bad news for Chicagoland……  according to Zillow, 35.8% of Chicagoland homes lost value this year.  The Zillow index showed home prices rose 2.5%, but some parts of Chicagoland slid, with only some areas moving forward.  Sarah Ehlen from Crains’s Chicago llgives us some insight into the numbers.thinkstock

Zillow report says in Chicago area over a third of homes have lost value – Residential News – Crain’s Chicago Business

The Chicago housing market is recovering from a brutal crash, but more than a third of local homes are worth less than they were a year ago, according to a new report.

Real estate website Zillow found that 35.8 percent of Chicago-area homes lost value in the 12 months through the end of August. Nationally, 27.9 percent of homes dropped in value over the same period.

 

Source: Zillow report says in Chicago area over a third of homes have lost value – Residential News – Crain’s Chicago Business