A closely watched index of local home prices fell in January for the fifth straight month, hitting its lowest level in 11 years, a sign that the Chicago-area residential market has yet to hit bottom.
The Standard & Poor’s Case-Shiller index of Chicago-area single-family home prices fell 1.9 percent from December to January and was down 6.6 percent from the year-earlier level, according to a report released Tuesday.
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