Wintrust Business Minute: Chicago home prices rose by 10% in January

Wintrust Business Lunch

English - February 23, 2024 22:05 - ★★★★★ - 8 ratings
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Steve Grzanich has the business news of the day with the Wintrust Business Minute. Home prices in the Chicago area rose by about 10% in January. It’s the first double-digit increase since the height of the COVID housing boom. Illinois Realtors says the median home price in the nine-county metro area was $315,000. The metro […]

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Home prices in the Chicago area rose by about 10% in January. It’s the first double-digit increase since the height of the COVID housing boom. Illinois Realtors says the median home price in the nine-county metro area was $315,000. The metro Chicago increase was just 6.3%. Analysts say the increase is largely the result of buyers paying premium prices because there are so few homes on the market. The available inventory of homes in December was the smallest in 17 years.

Also, Allstate is selling a Wacker Drive office building that the insurer had been eyeing for its headquarters. Listen for more below:

https://serve.castfire.com/audio/4499217/4499217_2024-02-23-214617.64kmono.mp3