Morning Minute: Market improvement seen in some hard hit Chicago neighborhoods

Good news for home values in some Chicago neighborhoods that had struggled following the housing downturn. Homes in the Pullman/Riverdale/Roseland and Englewood/Auburn Gresham neighborhoods are seeing home value gains, according the article, “Home values in some hard-hit Chicago neighborhoods turning around,” in today’s Chicago Tribune (login required).

The data comes from the DePaul University Institute for Housing Studies’ Fourth Quarter 2012 Cook County House Price Index which breaks down the geographic variances of the housing market recovery in Cook County.

According to the index, some submarkets —  largely in the city of Chicago and clustered near the city center or along Lake Michigan — have emerged on strong footing with steady price growth.

Other neighborhoods that had been hard hit by foreclosure and price declines — including Humboldt Park/Garfield Park submarket and Pullman/Roseland submarket — are showing positive movement.

Read the index for details on different Cook County neighborhoods.

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