Parcl Labs Predicts Case Shiller Index for December in Chicago
Real Estate Analytics
Parcl Labs, a provider of real estate analytics, has predicted the Case Shiller Index for December in Chicago. Their prediction indicates a slight decrease in the housing market compared to November, which has seen a continuous downward trend since December 2022.
Housing Market in Chicago
Case Shiller December Predictions
The Case Shiller Index, a widely recognized metric of the housing market, is based on repeated sales methodology of single-family residences only. Its report is two months lagged and releases on a monthly basis. Parcl Labs has predicted the Case Shiller Index for December in Chicago to be 182.31, a -1.2% decrease compared to November's recorded value of 184.57.
Housing Market Growth
Despite the slight decrease in the Case Shiller Index, the Chicago housing market has seen growth since December, with a 1.91% increase. It is important to note that the Case Shiller Index only evaluates single-family residences and does not reflect the entire housing market's current state. Over the last 12 months, 29.39% of real estate sales in Chicago were condos or townhomes, which are not factored into the Case Shiller Index.
2022 Peak to Current for Chicago Housing Market
From the 2022 peak, the Chicago housing market has seen a -6.78% decrease.
All Case Shiller 10 Markets
A report of the findings from Decembers predictions for all Case Shiller 10 markets, which includes:
- Boston Housing Market
- Chicago Housing Market
- Denver Housing Market
- Las Vegas Housing Market
- Los Angeles Housing Market
- Miami Housing Market
- New York Housing Market
- San Diego Housing Market
- San Francisco Housing Market
- Washington, DC Housing Market
Can be found at Market Update: Predicting Case Shiller Numbers for December
What is the Case Shiller Index?
The Case Shiller Index is a repeated sales methodology that evaluates the housing market's state based on single-family residences only. Its report is two months lagged and releases on a monthly basis.
What does the Case Shiller Index for December indicate for Chicago?
The predicted Case Shiller Index value for December in Chicago is 182.31, which is a -1.2% decrease compared to November.
What is a market correction?
A market correction is when the housing market has seen a decrease from its peak value.
In conclusion, Parcl Labs' predicted Case Shiller Index for December in Chicago indicates a slight decrease in the housing market compared to November. While the Case Shiller Index is a widely recognized metric of the housing market, it only evaluates single-family residences and does not reflect the entire housing market's current state. It is also worth noting that the Chicago housing market has seen a -6.78% decrease from its peak in 2022, indicating a market correction.
The housing market in Chicago is an important economic indicator, and Parcl Labs' real estate analytics offer valuable insights into the current state of the market. However, it is important to remember that these predictions are not infallible, and actual results may differ. As such, it is essential to use this information in conjunction with other economic indicators and expert advice when making financial decisions.