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CHICAGO-Illinois Association of Realtors’ report shows that a continuing weak economy and the expiration of federal tax credits have made home sales fall 25.1% in July in the Chicago metropolitan area. The report also shows that the median price dropped by 9.6% to $193,000.

Home sales in Chicago plummeted 19.5% to 1,589 and the median price sank 19.8% to $196,500. The director of the University of Illinois’ Regional Economics Applications Laboratory anticipates double-digit decreases in home sales in the future. For the full story, go to Chicago Sun Times.

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