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:


  • For-Profit Nursing Homes Fare Worse Because of Corporate Outsourcing
  • Of Illinois and Missouri, which has higher taxes? You might be surprised.
  • Streamwood, IL Homes For Sale & Real Estate
  • Southwestern Illinois Commercial Real Estate Transactions
  • Robbins, IL Homes For Sale & Real Estate
  • Top 10 Subdivisions in Frankfort, IL - February 2018
  • Cook County Illinois Suffers Largest Population Drop In Entire US
  • Morning Spin: Illinois lawmakers scheduled to consider assault weapons ban today
  • The Boulder Group negotiates sale of Family Dollar in Illinois
  • Series of House Shootings
  • Illinois governor again rejects elderly home care plan
  • Donors had role in Congressman's 2014 property deal
  • Illinois Crowdfunding Starting Strong in 2017
  • Finding a new home in today's market
  • Berkshire Hathway offering real estate class
  • Ikea building largest solar array in Illinois
  • Seller, real estate agent at odds over commission
  • Fire damages 3 homes in Staunton IL
  • As Nursing Homes Evict Patients, States Question Motives
  • Chicago-area home sales down about 5% in July, continuing trend of weaker sales