Like holiday shoppers in search of a good bargain, first-time home buyers were out in force last month, scooping up homes to grab a federal tax credit that was to have expired Nov. 30.
As a result, sales of existing single-family homes and condos in October were extraordinary, rising 33.3 percent from the same month last year, to 7,286 homes sold in the Chicago area. And they got those homes at a deal -- the median price in the Chicago area last month was $190,000, down 15.6 percent from October 2008's $225,000, the Illinois Association of Realtors said Monday.
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