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Updated · Crain's Chicago Business · Apr 29Chicago home prices rise five times faster than national pace
15 articles · Updated · Crain's Chicago Business · Apr 29
- The gap has persisted for two consecutive months, marking a sustained period of much stronger price growth in Chicago than across the United States.
- The latest report highlights Chicago as a notable outlier in the housing market, with local price gains far exceeding the broader national trend.
- The divergence suggests stronger demand or tighter supply in Chicago, even as the wider US housing market records much slower home-price growth.
Chicago’s home values are soaring, but is this boom leaving low-income neighborhoods further behind? With home prices rising seven times the national rate, is Chicago’s affordability now a myth? Is Chicago’s housing boom a sign of economic strength or a bubble destined to burst? With corporations flocking to Chicago, are longtime residents being permanently priced out of the city? Can city initiatives to slash red tape build enough new homes to cool this scorching hot market? Homeowners have record equity, but with nowhere to buy, is selling a golden opportunity or a trap?