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Article: Downtown condo sales decline 24%: Market still seen as solid, analyst says.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- August 15, 2006
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Copyright informationCOPYRIGHT 2006 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sharon Stangenes
Aug. 15--Downtown Chicago condominium sales fell about 24 percent in the first six months of 2006 from a year earlier, a drop an analyst compared to downshifting from "110 miles an hour to about 70 miles a hour." Buyers signed contracts or reservations for 3,739 Chicago condominiums through June, a decline from 4,898 in the same period of 2005, a record year, according to Appraisal Research Counselors.
"I think the market has slowed down a little bit, but we don't think the market has stopped," said Ron DeVries, a vice president of the Chicago consulting firm. "Last year the market was fantastic. We think the market is still solid." ...
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