Year-end 2006 Chicago-area Condo Update

Appreciation was up for 2006 vs. 2005, which was the highest performing year for sales and appreciation in history. Total units sold in 2006 slipped about 9% under the record-breaking total of 2005. Headlines are everywhere about the state of the housing market, but keep in mind some very overheated markets--Vegas, the West Coast, the East Coast and Florida--are taking the brunt of the so-called "correction" and are fueling most of the headlines.