IAR releases statement on Chicago housing data

According to Illinois REALTOR Weekly Connection, the IAR has released a statement about the city of Chicago housing data reported in the Chicago Tribune yesterday.  They deeply regret that this happened and they are working with the Chicago Association of REALTORS and MRED to investigate the reporting, resolve, and correct it.  The reporting issue is isolated to city of Chicago data; it does not involve the IAR statewide reporting and regional nine-county Chicagoland PMSA reporting, which is confirmed accurate for the Illinois housing market as is the University of Illinois REAL forecast.  They state that this is "absolutely unnaceptable", and they will take whatever action is required to fix the problem or take other actions to ensure public confidence in their market reports.  They regret any confusion in the marketplace that may have occured due to this situation.  They recognize that consumers have certainly been challenged to understand this market and their member REALTORS are working hard every day to communicate the challenges of the marketplace to their clients.