Find Real Estate Agents and Homes for Sale


Real Estate News --> Illinois News

House of pain: Illinois property taxes up, but home prices lag


Meanwhile, Illinois’ nonfarm personal income (adjusted for inflation ... Prices are influenced by changes in costs and also by changes in the characteristics and size of homes actually sold. For example, if for some reason in a given year a ...


Archived Story

The first category consists of value measures such the American Community Survey, the decennial census or Zillow’s home value index, which all confound price and quantity changes. Unfortunately, median or average sales prices are not a good measure of appreciationMovements in sales prices should not be interpreted as measuring changes in the value of a homePrices are influenced by changes in costs and also by changes in the characteristics and size of homes actually soldFor example, if for some reason in a given year a disproportionately high number of high priced homes were sold, the median price would rise even if no single property appreciated at all. The second category consists of proprietary price index data such as Black Knight, CoreLogic or Case-Shiller, which are produced using limited transactions data prior to the late 1980s or early 1990s, forcing reliance on geographic pooling of transactions, smoothing of series over space or time, or limiting coverage. To address this gap in the availability of constant-quality house price measures, economists at the Federal Housing Finance Agency used data from nearly 100 million transactions to construct a comprehensive set of annual house price indices over four decades for cities, counties, 3-digit ZIP codes (ZIP3s) and 5-digit ZIP codes (ZIP5s). See All Reports   Chicago Office | Illinois Policy 190 South LaSalle Street | 1500 | Chicago, IL 60603 t 312.346.5700  f 312.346.5755 Springfield Office | Illinois Policy 802 South 2nd Street | Springfield, IL 62704 t 217.528.8800  f 217.528.8808  e info@illinoispolicy.org

Trending Illinois News:


  • Kendall real estate market recovering?
  • Ranking female operative in Mexican drug cartel appears in Chicago court
  • Illinois Second Highest in Property Taxes
  • PropertyUP Announces New Unique School Search Tool
  • Huntley, IL Homes For Sale & Real Estate
  • Pine Tree announces a promotion and new hire
  • Illinois treasurer to governor: No 'junk' for credit trunk
  • Bite-sized Biennial shows give the big exhibit a Chicago focus
  • Natural gas safety tips
  • Top 10 Subdivisions in Arlington Heights, IL - October 2016
  • Train to begin a successful real estate career at Oakton this summer
  • Tips on avoiding a New Year's hangover
  • The Ins And Outs Of Rosce: The Best Things To Do In Roscoe, Illinois
  • States Acting to Protect Buyers of Seller-Financed Homes
  • Judge dismisses Illinois class action suit against Zillow over Zestimate home valuation tool
  • OC Ends 23-Year Bankruptcy as Illinois, Connecticut and Maine Default
  • AARP IL URGES GOV. RAUNER TO SIGN SENIOR CARE PROTECTION BILL
  • Amazon keeps tinkering with its warehouses. You should do the same
  • Illinois electors split over system to select president
  • Some real estate agents using texting to sell and buy homes