Chicago home prices show record yearly drop in March

Chicago home prices posted a record drop in March compared with the same month in 2008, according to Standard & Poor’s. Chicago-area prices fell 18.6 % in March compared with March 2008, a record year-to-year decrease, according to S&P. But local prices fell just 3.1 % in March compared with February after falling 3.4% in February compared with January.