Mixed Housing News for Chicago Region

February 26, 2008

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If you believe the latest figures, the nation is stuck in a housing slump, but in the Chicago region, the news isn't all bad.

First, the housing market's bright side. As a whole, foreclosure rates in the Chicago area have slowed. Info service RealtyTrac says in January, 25 percent fewer homes entered foreclosure than in December.

But if fewer people are close to losing their homes, it seems like it's harder to sell them. The Illinois Association of Realtors reports home sales in Northeastern Illinois were down 34 percent from last January, and sale prices dipped, too. Analysts say January's blustery weather is partly to blame for the sluggish housing market.

I'm Shawn Allee, Chicago Public Radio.