Chicago Asking Price Increases Among Nation’s Strongest in June

by Peter Thomas Ricci

The good news train continued rolling in June with the release of Trulia’s latest Price Monitor.

Asking prices in the Chicagoland area rose a hefty 13.8 percent year-over-year in June, according to the latest Price Monitor from Trulia; based on listing data from its website, Trulia’s Price Monitor anticipates price growth in the industry’s other major home price indices.

Chicagoland’s yearly asking price growth was good for the seventh in the entire nation, and among large metro areas, only three saw stronger price growth than Chicago; additionally, Chicago’s 5.3 percent quarterly increase was the second-best among large areas, and its asking rents rose a formidable 7.3 percent.

Nationally, however, asking prices continued to slow, with yearly and quarterly increases coming in at 8.1 and 2.6 percent, respectively; though still positive, those increases were behind June 2013’s 9.5 and 3.1 percent.

See our graph below for more perspective on how Chicago compares with the rest of the nation:

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