Business Services Industry
Late News.(local new home market improves in second quarter)
Crain's Chicago Business, July, 2003
AREA HOUSING SALES REVVING UP AGAIN Record-low interest rates and the end of uncertainty related to war in Iraq lifted the local new-home market in the second quarter. Suburban sales of new homes climbed 12.7% to 6,943 units, compared with 6,160 units in the year-earlier quarter, according to a survey by Schaumburg-based real estate consultant Tracy Cross & Associates Inc.
Among the best-performing sectors was the near north suburbs, where robust condominium sales in downtown Evanston contributed to a 105.5% second-quarter increase, to 224 units. Meanwhile, in Chicago, sales rose 8.4% to 925 units from 853 units in 2002's second quarter. The median price for a single-family home in the metropolitan area climbed 10.4% to $247,685, while the comparable figure for...
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