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Sales increase, housing discrimination, new play in this week's real estate news

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Maureen Wilkey

Writer on real estate from any angle

Here's a round up of the real estate news in Chicago this week.

-Sales rose 29 percent this January over January 2009 Crain's reports that sales were also up 14 percent over last month, although prices are down about 5.4%

-HUD is asking gay couples to help with anti-discrimination study It's illegal to discriminate against homosexuals for affordable housing in Chicago, but the Washington Post says homosexuals are helping out in a study to find out how often discrimination may occur.

-'Clybourne Park' explores racism in Chicago neighborhoods The play is a reverse 'Raisin in the Sun', showing what happens to a white family that moves into a traditionally black neighborhood, according to a Canadian Press review.

-Sales of previously owned homes down in January Bloomberg reports sales of existing homes were down 7.2 last month, which indicates that lack of job growth is outpacing first time homebuyers.

-Recovery will never get as high as we were Medill Reports says that housing sales are still slow despite first time homebuyer tax credits. Home sales will not return to 2006 levels,bt maintain a lower sustained stability in the future.

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1 Comment

Lucid Realty said:

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Several problems with these headlines:
1) Prices are not down 5.4%. Median prices are down 5.4%, which is no indication of price trends. All it means is that the mix of housing sold skewed down.
2) I have no idea how they come up with a 7.2% decline in houses sold - unless they are comparing it to December numbers, which would be meaningless because January is always down relative to December. Most of the articles with the 7.2% headline went on to say that sales were actually up over the previous year by about 11.5%

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