Chicago Metro Median Home Price Rising

The median home price for homes sold in the Chicago Metro area is slightly tracking upward over the last few months. Below is a chart tracking the monthly median home price for the last 3 years.

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Is this a sign of improvement in sales coming next Spring? It is too early to tell. We will monitor this situation closely over the coming months and report back.

Times Are Tough in Miami

The Conforming loan originations for Miami have dropped by over 50% when comparing September 2009 vs. September 2008.

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This market has probably not reached the bottom yet. Some estimates are suggesting that the median home price in Miami could drop another 30% by next June. Let us hope they are wrong. We will continue to monitor this market over the next six to eight months.