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Chicago, IL - House Price Index (HPI) - 33 Year Chart
Chicago Real Estate Market
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1000
The House Price Index (HPI) changes in Chicago-Naperville-Joliet, IL single family home prices in
logarithmic scale. The March, 1995 index value equals 100.  Updated Friday, January 27, 2012. Real
estate forecasts, analysis, statistics and appreciation rates are provided below.
Chicago Real Estate Index: 33 Year Chart
Home Values Appreciation Rate - US Cities
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Chicago Real Estate Market: Trend, Analysis & Statistics
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Commentary  9365
3rd Quarter, 2011 Housing Statistics: Chicago, Illinois


Part 1: HOUSING MARKET FORECAST

12 Month Forecast:      DOWN
Forecast Accuracy:      88%

Forecast-Chart.com publishes forecasts for the trend in home prices in 380
Metropolitan Statistical Areas. The House Price Trend will be either UP or
DOWN. The forecast for the trend in the Chicago housing market for the 12
months ending with the 3rd Quarter of 2012 is DOWN. The Accuracy of the
Trend Forecast for Chicago is 88%. In other words, when tested against
historical data, the forecasting methodology was correct 88% of the time.
Accordingly, Forecast-Chart.com estimates that the probability for falling house
prices in Chicago is 88% during this period. If this Housing Market Forecast is
correct, home prices will be lower in the 3rd Quarter of 2012 than they were in
the 3rd Quarter of 2011. Check this page each quarter for updates to the
Chicago Real Estate Market Forecast.


3 Year Forecast:          DOWN
Forecast Accuracy:      88%

The forecast for the trend in the Chicago housing market for the 3 years ending
with the 3rd Quarter of 2014 is DOWN. The Accuracy of the Trend Forecast for
Chicago is 88%. In other words, when tested against historical data, the
forecasting methodology was correct 88% of the time. Accordingly,
Forecast-Chart.com estimates that the probability for falling house prices in
Chicago is 88% during this period. If this Housing Market Forecast is correct,
home prices will be lower in the 3rd Quarter of 2014 than they were in the 3rd
Quarter of 2011. Check this page each quarter for updates to the Chicago Real
Estate Market Forecast.




Part 2: MARKET SUMMARY
3rd Quarter, 2011 Housing Data: Chicago, Illinois


Historical Home Price Appreciation
Last Quarter                                     0.62%
Last Year . . . . . . . . . . . . . . . . . . . .  -6.4%
Last 5 Years                                     -22%
Last 10 Years . . . . . . . . . . . . . . . . . 14%
Last 20 Years                                   76%
Decline From All Time High               23.10%


Annual Home Price Appreciation Rates
1981      7.32%
1982      -3.84%
1983      7.67%
1984      5.34%
1985      5.29%
1986      9.49%
1987      11.31%
1988      9.24%
1989      8.19%
1990      3.77%
1991      4.49%
1992      3.40%
1993      3.37%
1994      3.08%
1995      4.37%
1996      2.28%
1997      3.78%
1998      3.17%
1999      5.62%
2000      7.86%
2001      6.98%
2002      7.16%
2003      7.62%
2004      9.74%
2005      10.21%
2006      4.83%
2007      -0.41%
2008      -6.94%
2009      -8.67%
2010      -3.16%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.62%         Rank: 207 of 381 (45th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -6.4%          Rank: 298 of 381 (21st Percentile)
Last 5 Years                              -22%           Rank: 307 of 381 (19th Percentile)
Last 10 Years  . . . . . . . . . . . .   14%            Rank: 292 of 381 (23rd Percentile)
Last 20 Years                            76%            Rank: 228 of 351 (35th Percentile)
Decline From All Time High        23.10%

Home Price appreciation rates for Chicago-Naperville-Joliet, IL are shown above
for five time periods. For example: Chicago appreciated 0.62% in the Last
Quarter. At that rate, the Chicago Real Estate Market was ranked 207th out of
381 metropolitan areas for Real Estate Appreciation. Chicago was in the 45th
percentile. So Chicago, IL performed better in the Last Quarter than 45% of the
381 metropolitan areas covered in Forecast-Chart.com.

























Part 3: MARKET HIGHLIGHTS
3rd Quarter, 2011 Housing Statistics: Chicago, Illinois

The data and analysis on this page pertains to Chicago-Naperville-Joliet, IL,
hereinafter referred to as "Chicago". The all time high in the Chicago Home
Price Index was 203.5 in the 1st Quarter, of 2007. The 3rd Quarter, 2011 index
value was 156.5. That's a decline of 47.00 points or 23.10% below the Chicago
Home Price Index all time high.  The Home Price Index indicates that the
Chicago Market is up 14% over the last 10 years. Home Prices in the Chicago
Real Estate Market have lost 6.37% over the last 12 months. Over the last thirty
years, it is up 209%.

The 3rd Quarter index value was 0.97 points higher than the 2nd Quarter, 2011
index value of 155.52, resulting in a 0.62% rise in the 3rd Quarter for the
Chicago Market.

The Chicago Home Price Index increased in the last quarter after falling in the
previous 3 quarters. The current record holder for consecutive increases in the
Home Price Index is Bismarck, ND, with increases in the last 6 consecutive
quarters. The current record holder for consecutive declines in the Home Price
Index is Las Vegas, NV, with declines in the last 19 consecutive quarters.

The highest annual home appreciation rate in the Chicago Real Estate Market
was 21% in the twelve months ended with the 4th Quarter of 1977. The worst
annual home appreciation rate in the Chicago Market was -10% in the twelve
months ended with the 1st Quarter of 2010.

The highest home appreciation in the Chicago Real Estate Market over a three
year period was 52% in the three years ended with the 4th Quarter of 1978.
The worst home appreciation over a three year period in the Chicago Market
was -21% in the three years ended with the 1st Quarter of 2011.

This page provides a long term graph of the Chicago Home Price Index
(above). The house price chart has been updated through the 3rd Quarter of
2011. For more information about Chicago Home Prices, look at the links under
that chart. One link opens a long term chart of historical appreciation rates for
the Chicago Real Estate Market. Another opens a forecast for appreciation
rates in the state of Illinois. Just one glance at Forecast-Chart.com's long term
charts can provide tremendous insight into the historical trends of residential
property values. Bookmark this page! Then Forecast-Chart.com's detailed
research and statistics about Chicago Home Prices will be at your fingertips
when you need them.

Historical data on the Chicago Home Price Index is available back to the 3rd
Quarter, of 1975. All calculations are based on the quarterly value of the House
Price Index for the Chicago Market. The terms House Price Index and Home
Price Index, as used in this site, refer to the Federal Housing Finance Agency
(FHFA) House Price Index.

Significant time is required to research quarterly sales price and appraisal data
from mortgage transactions in the Chicago Real Estate Market and hundreds of
other cities. As a result, Home Price data is not available for a number of
months after the end of each quarter.



Part 4: APPRECIATION RATES & RANKINGS
3rd Quarter, 2011 Housing Data: Chicago, Illinois

The appreciation of Chicago Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performing markets as well as the average and median performance for
all cities during each time period. The data and analysis on this page pertains
to Chicago-Naperville-Joliet, IL, hereinafter referred to as "Chicago".

Last Quarter:
During the 3rd Quarter of 2011, Chicago Home Prices had a rank of 207, with
appreciation of 0.62%. The top performing real estate market during the 3rd
Quarter was Lewiston, ID, with appreciation of 7.64%. The worst market during
that period was Sumter, SC, with appreciation of -5.30%.
The median appreciation for all cities during the 3rd Quarter was 0.70%. The
average appreciation for all markets during the quarter was 0.72%.

Last Year:
During the last 12 months, Chicago Home Prices had a rank of 298, with
appreciation during the year of -6.37%. The top performing market during the
last year was Elmira, NY, with appreciation of 6.1%. The worst real estate
market during that period was Carson City, NV, with appreciation of -15.4%.
The median appreciation for all markets during this period was -3.41%. The
average appreciation was -4.02%.

Last 5 Years:
Over the 5 years ended with the 3rd Quarter of 2011, Chicago Home Prices
ranked 307, with a total appreciation of -21.9%. The top performing real estate
market during the 5 year period was Midland, TX, with appreciation of 27%. The
worst market during that period was Merced, CA, with appreciation of -64%.
The median appreciation for all cities during this time period was -6%. The
average appreciation over the 5 years was -10%.

Last 10 Years:
During the 10 years ended in the 3rd Quarter of 2011, Chicago Home Prices
had a rank of 292, with appreciation during the decade of 14%. The top
performing market during the period was Midland, TX, with appreciation of 92%.
The worst real estate market during the 10 year time period was Detroit, MI, with
appreciation of -29%.
The median appreciation for all markets during the last 10 years was 26%. The
average appreciation for the cities over that time frame was 26%.

Last 20 Years:
During the 20 years ended in the 3rd Quarter of 2011, Chicago Home Prices
had a rank of 228, with total appreciation over the 20 year period of 76%. The
top performing real estate market during the period was Casper, WY, with
appreciation of 214%. The worst market during the last 20 years was Merced,
CA, with appreciation of 6%.
The median appreciation for all cities during the last 20 years was 87%. The
average appreciation for the markets over that time frame was 89%.

Historical research data on the Home Price Index for the Chicago Real Estate
Market is available back to the 3rd Quarter, of 1975. The chart has been
updated through the 3rd Quarter of 2011. All calculations are based on the
quarterly value of the House Price Index for Chicago. Real estate appreciation
figures represent total appreciation over each time period. (Unless specifically
stated, the appreciation figures do not represent annual or quarterly rates of
appreciation.)



PART 5: NATIONAL ECONOMIC FORECASTS
Local economies and home values are influenced in varying degrees by
national economic conditions. Forecasts for some relevant indicators are
included below. The date shown to the right of the forecast represents the
target date of the forecast.   Abbreviations: SSAR (Seasonally Adjusted Annual
Rate),  Q1 (First Quarter),  Q2 (Second Quarter),  etc.

U. S. Home Values (12 Month Appreciation or Depreciation)  -1.9%  (2012-Q4)
30 Year Mortgage Interest Rate:  3.25%  (December, 2012)
15 Year Mortgage Rate:  2.93%  (December, 2012)
Adjustable Rate Mortgage Rate:  0.00%  (December, 2012)
Housing Starts (SSAR in 1000's):  732  (November, 2012)
Prime Interest Rate:  0.11%  (December, 2012)
US Unemployment Rate (Overall):  8.63%  (November, 2012)
US Inflation or Deflation (-):  3.04%  (November, 2012)
Crude Oil Prices (Dollars per Barrel):  $92.4  (November, 2012)
Natural Gas Prices (Dollars Per Million BTU):  $3.37  (November, 2012)
U.S. Dollar Trade Weighted Currency Exchange Index:   105  (December, 2012)
GDP (Gross Domestic Product) SSAR in Trillions:  $15.6  (2012-Q2)
GNP (Gross National Product) SSAR in Trillions:  $16.0  (2012-Q2)
Federal Surplus or Deficit (-) in Billions:  $-1704  (2011)
National Debt (Trillions):  $14.6  (2012-Q2)
Fed Funds Rate:  4.03%  (December, 2012)
S&P 500 (Standard & Poor's 500 Stock Index):  1245  (December, 2012)
DJIA (Dow Jones Industrial Average):  12030  (December, 2012)
U. S. Exports (SSAR in Billions):  $2338  (2012-Q2)
U. S. Imports (SSAR in Billions):  $3042  (2012-Q2)
U. S. Personal Savings Rate:  4.61%  (November, 2012)

































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