Economy / Housing / Township News

Crain’s: Over 230 Homes Sold in Maywood in 2016 as Values Rise | Bellwood, Melrose Park See Similar Gains

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A visualization generated by Open Street Map and published by Crain’s shows median housing prices up by at least 10 percent in many area suburbs at the end of 2016 compared to the year before. | Crain’s Chicago Business 

Tuesday, January 24, 2017 || By Local News Curator || @maywoodnews

According to a Jan. 24 Crain’s Chicago Business report, median home prices throughout Proviso Township were up significantly by the end of 2016 compared to that point in 2015.

From the Crain’s report:

“Prices and sales are expected to continue experiencing modest gains over the first quarter,” Geoffrey Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois, said in a statement from the Realtors’ group.

“Consumers appear to be waiting to see what the new president and Congress plan for the economy. As a result, it may be several months before there is an appreciable impact on the housing market.”

Crain’s compiled maps and charts from data released by Midwest Real Estate Data and the Chicago Association of Realtors.

To read the full Crain’s report, click here.

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