Illinois Association of REALTORS(R) Statement Regarding City of Chicago Housing Data

This error has resulted in inaccurate median price and sales volume reports for single-family homes and condominiums, in the city, possibly dating back to 2008 when IAR first began reporting city data at the request of the Chicago Association of Realtors(R). Realtors The one thing we do know is that this was an error and in no way intentional. But whatever the cause, this is absolutely unacceptable to us and we will take whatever action is required to fix the problem or take other actions to ensure public confidence in our market reports. We regret any confusion in the marketplace that may have occurred due to this situation. We recognize that consumers have certainly been challenged to understand this market and our member REALTORS(R) are working hard every day to communicate the challenges of the marketplace to their clients. We are trying to determine where there may have been flaws in how this information was entered and processed, and if the problem dates back to the inclusion of Chicago data in early 2008. In addition to serving the professional needs of its members, the Illinois Association of REALTORS(R) works to protect the rights of private property owners in the state by recommending and promoting legislation that safeguards and advances the interest of real property ownership.