Chicago home market to remain stable

The massive 25% drop in home prices is about to level off, at least in Chicago, according to CNNmoney.com's article today.

While the report indicates that several major metro areas are still losing steam in the housing market, Chicago will lose just 4.1 percent of home values over the next 12 months and gain .7 percent in 2010. And it looks like Chicago is the biggest city that won't be falling. New York and Los Angeles are still posting double-digit losses over the next year.

Less than a percent gain in home price is really nothing to write home about, but at least we know it will still be a good time to invest for another year or two. Also, the figures show that we haven't overbuilt as badly as some other cities, and that maybe jobs will remain stable over the coming years in Chicago.

The other positive indicator from the low numbers is that maybe next time housing tanks, you won't lose that home value you might gain after this recession is over.