Just reported:
Local Case-Shiller home price index falls again for Chicago area homes.

By: Staff December 28, 2010

(Crain's) — An index of local home prices fell in October for the second straight month, dropping almost twice as much as a national index.

The Standard & Poor's/Case-Shiller index of Chicago-area single-family home prices declined 2.0% from September to October and was down 6.5% from year-ago levels, according to a report released Tuesday.

Chicago’s year-over-year decline was the biggest of the 20 cities. Its October reading was the Chicago market’s lowest since May.

Prices fell on a month-over-month basis in all 20 U.S. metropolitan areas tracked by Standard & Poor's and in all but four markets year-over-year.

An index of the 20 U.S. cities fell 1.3% in October and 0.8% from a year earlier, the report said.

“There is no good news in October’s report. Home prices across the country continue to fall,” David M. Blitzer, chairman of Standard & Poor's index committee, said in a release.

Year-over-year sales nationwide are down more than 25%, Mr. Blitzer says in the release. Chicago-area sales were relatively flat through November year over year, though they have fallen sharply in the past few months, according to data from the Illinois Assn. of Realtors.

Atlanta saw the biggest monthly decline, 2.9%, and the second-biggest year-over-year fall, 6.2%, according to the Case-Shiller report.

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