NewsViews: Chicago Housing Market

July 16, 2012 8:49:42 AM PDT
The real estate website Zillow found that among the country's 50 largest metropolitan areas Chicago is the top buyer's market. Milwaukee, Cleveland, New York and Philadelphia round out the top five.

According to Zillow, 48 percent of homes sold in the Chicago area this May sold for less than their previous selling price. The median number of days those homes were listed on Zillow was 182.

So does this reflect what local real estate experts are seeing? Joining us to discuss that question and more about home sales in Chicago are Alby Gallun, senior reporter with Crain's Chicago Business, and realtor John Irwin with Baird and Warner.