Home price fall by 6.6%

In the Chicago region, the prices of house, single family, and fell by 6.6% to $249,600.The price of homes fell by 3% in townhouses, cooperatives but in, metropolitan; the prices went up by 7%.

The growing number of unsold homes in Chicago is the major problem in the region and the buyers are finding it difficult to sell their homes they own. Currently the solution for increasing homes is to stop construction of new homes.