Chicago home sales up; but prices at record 10-year low

Text and photo by Ted Regencia
Written for the Business and Economics Reporting Class
at Columbia Journalism School

Around this time a year ago, Kevin Anderson, a broker at Chicago’s largest residential real estate company @properties, was feeling downcast. A historic snowstorm had just hit the Windy City and he had only managed to list or sell two properties. As 2012 enters its second month, Anderson is more upbeat. So far he has four units listed or under contract.

“It is a buyer’s market,” Anderson said. “We have not seen this in decades, so it’s a great time to buy if you can.” Consumer sentiment is also up, he said.

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