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| Chicago real estate sales of detached homes turn in best showing 2008 sales of detached homes in the metropolitan Chicago real estate market were stronger than sales of attached homes despite an overall slowdown in housing activity. Last year, sales of detached homes, the industry term for traditional single-family residences, fell 20.6 percent, while sales of attached units (primarily condo apartments and townhouses) dropped 32.4%. That is a sharp change from 2007 when attached sales were off 18 percent compared to a 23.8 percent decline in detached homes. Detached homes accounted for 58 percent of all homes sold in the metro Chicago real estate market during 2008 compared to 54 percent in 2007. Sales of all homes in metropolitan Chicago declined 26 percent in 2008 when compared to the 2007 total. Transaction data is supplied by Midwest Real Estate Data, LLC, (MRED) and analyzed by RE/MAX Northern Illinois. The Chicago-area data includes Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties. write your comments about the article :: © 2009 Construction News :: home page |