Scientists to resume work with lab-bred bird flu


WASHINGTON (AP) — International scientists who last year halted controversial research with the deadly bird flu say they are resuming their work as countries adopt new rules to ensure safety.


The outcry erupted when two labs — in the Netherlands and the U.S. — reported they had created easier-to-spread versions of bird flu. Amid fierce debate about the oversight of such research and whether it might aid terrorists, those scientists voluntarily halted further work last January — and more than three dozen of the world's leading flu researchers signed on as well.


On Wednesday, those scientists announced they were ending their moratorium because their pause in study worked: It gave the U.S. government and other world health authorities time to determine how they would oversee high-stakes research involving dangerous germs.


A number of countries already have issued new rules. The U.S. is finalizing its own research guidelines, a process that Dr. Anthony Fauci of the National Institutes of Health said should be completed within several weeks.


In letters published in the journals Science and Nature this week, scientists wrote that those who meet their country's requirements have a responsibility to resume studying how the deadly bird flu might mutate to become a bigger threat to people — maybe even the next pandemic. So far, the so-called H5N1 virus mostly spreads among poultry and other birds and rarely infects people.


"The risk exists in nature already. Not doing the research is really putting us in danger," said Yoshihiro Kawaoka of the University of Wisconsin-Madison. He and Ron Fouchier of Erasmus University in the Netherlands separately created the new virus strains that could spread through the air.


The controversy flared just over a year ago, when U.S. officials, prompted by the concerns of a biosecurity advisory panel, asked the two labs not to publish the results. They worried that terrorists might use the information to create a bioweapon. More broadly, scientists debated whether creating new strains of disease is a good idea, and if so, how to safeguard against laboratory accidents.


Ultimately, the flu researchers prevailed: The government decided the data didn't pose any immediate terrorism threat after all, and the two labs' work was published last summer.


Fouchier said that within weeks, he will begin new research in the Netherlands, with European funding, to explore exactly which mutations are the biggest threat. He said the work could enable scientists today to be on the lookout as bird flu continually evolves in the wild.


U.S.-funded scientists cannot resume their studies until the government's policy is finalized.


But the NIH had paid for the original research — and it would have been approved under the soon-to-come expanded policy as well, Fauci told The Associated Press. That policy will add an extra layer of review to higher-risk research, to ensure that it is scientifically worth doing and that safety and bioterrorism concerns are fully addressed up-front, he said.


Had that policy been in place over a year ago, it could have averted the bird flu debate, Fauci said: "Our answer simply would have been, yes, we vetted it very carefully and the benefit is worth any risk. Period, case closed."


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Sundance stars sound off on gun violence in film


PARK CITY, Utah (AP) — The Sundance Film Festival isn't home to many shoot-em-up movies, but action-oriented actors at the festival are facing questions about Hollywood's role in American gun violence.


Guy Pearce and Alexander Skarsgard are among those who say Hollywood shares in the blame.


Pearce is in Park City, Utah, to support the family drama "Breathe In," but he's pulled plenty of imaginary triggers in violent films such as "Lockdown" and "Lawless." He says Hollywood may make guns seem "cool" to the broader culture, but there are vast variations in films' approach to guns.


"Hollywood probably does play a role," Pearce said. "It's a broad spectrum though. There are films that use guns flippantly, then there are films that use guns in a way that would make you never want to look at a gun ever again — because of the effect that it's had on the other people in the story at the time. So to sort of just say Hollywood and guns, it's a broad palette that you're dealing with, I think. But I'm sure it does have an effect. As does video games, as do stories on the news. All sorts of things probably seep into the consciousness."


Skarsgard, who blasted away aliens in "Battleship," says he agrees that Hollywood has some responsibility for how it depicts violence on-screen.


"When (NRA executive director) Wayne LaPierre blames it on Hollywood and says guns have nothing to do with it, there is a reason," he said. "I mean, I'm from Sweden. . We do have violent video games in Sweden. My teenage brother plays them. He watches Hollywood movies. We do have insane people in Sweden and in Canada. But we don't have 30,000 gun deaths a year.


"Yes, there's only 10 million people in Sweden as opposed to over 300 (million) in the United States. But the numbers just don't add up. There are over 300 million weapons in this country. And they help. They do kill people."


Ellen Page, who co-stars with Skarsgard in "The East," noted that gun restrictions are much more pervasive in her home country, Canada.


"You can't buy some crazy assault rifle that is made for the military to kill people. And like that to me is just like a no-brainer," she said. "Why should that just be out and be able to be purchased? That does not make me feel safe as a person."


Skarsgard says it may be time to revisit the Second Amendment.


"The whole Second Amendment discussion is ridiculous to me. Because that was written over 200 years ago, and it was a militia to have muskets to fight off Brits," he said. "The Brits aren't coming. It's 2013. Things have changed. And for someone to mail-order an assault rifle is crazy to me. They don't belong anywhere but the military to me. You don't need that to protect your home or shoot deer, you know."


___


AP Entertainment Writer Ryan Pearson is on Twitter: www.twitter.com/ryanwrd .


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Chicago hotel occupancy climbs back









Visitors filled downtown hotel rooms in 2012 at a rate not seen since before the recession.

Hotel occupancy rose to 75.2 percent, up from 72.2 percent in 2011, according to an announcement by Choose Chicago, the city's tourism and convention agency, and Mayor Rahm Emanuel. The 2012 level matched a previous record set in 2007.

Hotel operators also saw increases in two other key measures, though those remain slightly below their peaks. The average daily room rate rose to $187.27, from $177.33 in 2011. And the revenue per available room, a key indicator of profitability, increased by 10 percent to $140.76.

The data comes from STR Global, with analysis by Choose Chicago.

Among the factors affecting performance, officials said, was a more aggressive marketing strategy. They cited Choose Chicago's regional advertising campaigns. An eight-week winter and 12-week summer campaign, at a combined cost of $2 million, targeted Cincinnati, Detroit, Grand Rapids, Indianapolis, Milwaukee and St. Louis.

The improved performance, along with a hike in the city's hotel tax rate, brought the city's hotel tax revenue to more than $100 million for the first time. This was an increase of $25 million, or 33 percent, from 2011.
 
The city share of the hotel tax increased by 1 percentage point last year, bringing the total Chicago hotel tax rate to 16.39 percent. The city's share of that is 4.5 percentage points.

 kbergen@tribune.com | Twitter@kathy_bergen



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2 dead, 1 hurt in extra-alarm fire at South Side high-rise

Firefighters work to extinguish a fire on the seventh and eighth floors of a high-rise apartment building at 6730 South Shore Drive in Chicago on January, 22,2013.









Two men died and a woman was seriously injured when an extra-alarm fire broke out in a high-rise on South Shore Drive this morning.

All three victims suffered full cardiac arrest, apparently from breathing in smoke, according to Fire Department spokesman Larry Langford.


One of the men was in his 30s and the other was in his 40s, according to the Cook County medical examiner's office. The first man was pronounced dead at 9:54 a.m. at the University of Chicago Medical Center and the other was pronounced later at Jackson Park Hospital,  officials said.


Their names were not being released pending notification of family, according to the medical examiner's office.








The men were found on the seventh floor and the woman was found in the lobby of the building in the 6700 block of South Shore Drive, also in full cardiac arrest, Langford said. Paramedics were able to revive her with CPR and took her to the University of Chicago Medical Center, Langford said.


A firefighter suffered minor injuries, officials said.


The fire broke out around 8:40 a.m. and was quickly raised to a 3-11 alarm with a call for at least 10 ambulances, officials said. Firefighters on a ladder battled the blaze on the seventh floor while firefighters on another ladder tried to reach residents on balconies on the other side of the building.


Langford said the fire may have started in the bedroom of an apartment on the 7th floor. The blaze spread to an apartment on the 8th floor, he said. The fire was under control by 9:25 a.m.


Edward Parks, 48, said he was sleeping in his 11th floor apartment when the fire alarm went off. Parks said he grabbed the warmest clothes he could find and joined other residents in the hall.

"It was real cloudy in the halls when I went out to see what was happening," Parks said, his mustache covered in icicles. "There was a fireman in the hall. It was an orderly exit."

Parks, who has lived in the building for five years, said he had been standing outside for more than an hour in the freezing weather.

Jevon Smith, 30, lives on the 5th floor and said he was at a neighbor's apartment when he saw the fire from a window.  "There were huge flames coming from three apartments," Smith said. "I'm glad I wasn't home - just hope no one was hurt."

"This cold is brutal," Smith said, rubbing his hands together.


Jay Fizer, 20 was sleeping in his 10th floor apartment when smoke alarms started going off.  "Next thing I know, I open the door and hear a little panic and whatever. . .We just grabbed our stuff and got out of there."

Fizer said a "big old wind of smoke just came out of nowhere" as soon as he and a few other residents got about halfway down the stairs. But they made it to the first floor exit.


"We did it on our own," Fizer said. "No help. Just God."

This is "the worst time for this to happen," he said, standing outside the building in nearly subzero temperatures.


The fire department did not order an evacuation of the building, telling residents it was safer to stay in their apartments, Langford said. Firefighters then went door to door, checking on them.


Water from hoses and hydrants had turned to sheets of ice around the building. Dozens of fire trucks, ambulances and police cars lined South Shore Drive.


An American Red Cross team was on the scene to help find shelter for families displaced by the fire, spokeswoman Patricia Kemp said.

Kemp said the crisis team would likely be meeting the injured residents and their families at the hospital. "We'll also be replacing some items lost in the fire," Kemp said.


Chicago Tribune reporter Carlos Sadovi also contributed.


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking





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Google fourth quarter revenue outpaces Street targets, shares climb


SAN FRANCISCO (Reuters) - Revenue from Google Inc's core Internet business outpaced many analysts' expectations during the crucial holiday quarter and advertising rates fell less than in previous periods, pushing its shares up more than 4 percent.


The world's largest Internet search company introduced new product listings during the fourth quarter - typically its strongest - and also benefited from business growth in international markets, analysts said.


Excluding traffic-acquisition costs, the business generated net revenue of $9.83 billion, up from $8.13 billion a year earlier, Google reported on Tuesday. That surpassed a $9.6 billion average forecast from six analysts polled by Reuters.


"Business looked really strong, especially from a profitability perspective. They really grew their margins in the core business," said Sameet Sinha, an analyst with B. Riley Caris. "Most of that strength seems to be coming from international markets which grew revenues quite substantially: up 23 percent year over year, versus the 15 percent growth in the third quarter."


Average cost-per-click, a critical metric that denotes the price advertisers pay Google, declined 6 percent from a year ago, the fifth consecutive quarter of decline.


Google executives told analysts on a conference call that the company had focused on improving the metric - shoring up margins - while lowering the overall growth rate of paid clicks in the holiday quarter.


"Click prices are still declining, but it's better than expected," said BGC Partners analyst Colin Gillis.


MOTOROLA MOBILITY "STILL LOSING MONEY"


Consolidated net income in the fourth quarter was $2.89 billion or $8.62 per share, compared with $2.71 billion, or $8.22 per share, in the year-ago period when Google had not yet acquired Motorola.


Excluding certain items, Google said it earned $10.65 per share in the fourth quarter.


"The core business is a great business and the fourth-quarter is always a time for Google to shine. However, Motorola is still losing money and click rates still declined. They only declined 6 percent, but go back four or five quarters and click prices were improving. So mobile is still pressuring click prices," Gillis said.


The company posted consolidated revenue - which includes its Motorola Mobility mobile phone business but not the television set-top box business it recently agreed to sell - of $14.42 billion on Tuesday.


Motorola Mobility had an operating loss of $353 million during the quarter.


Shares of Google were up roughly 4.5 percent at $734.46 in after-hours trading on Tuesday.


(Reporting By Alexei Oreskovic; Editing by Bernard Orr)



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Djokovic getting the hang of winning in Australia


MELBOURNE, Australia (AP) — Novak Djokovic is really starting to get the hang of how to handle himself at the Australian Open.


An expression often used Down Under — "Keep your shirt on" — is designed to discourage anyone from becoming unnecessarily overexcited.


Djokovic took it literally after his 6-1, 4-6, 6-1, 6-4 win Tuesday night over fifth-seeded Tomas Berdych, advancing to the semifinals at an 11th consecutive Grand Slam tournament.


The 2-hour, 31-minute victory took exactly half the time of his five-set, fourth-round win two nights previously against Stanislas Wawrinka. In the early hours of Monday morning, Djokovic ripped his sweat-drenched shirt off and flexed his muscles, mimicking his victory celebration after the 5:53 victory over Rafael Nadal in the 2012 Australian Open final.


That was acceptable at the time to the Rod Laver Arena crowd, which was still abuzz at 1:40 a.m. following five sets of high-level tennis.


After the Berdych match, however, he realized there was no need to raise the roof. Djokovic calmly pumped his fist once and walked to the net; he later joked about the ice baths he'd taken in between matches on the advice of local hero Lleyton Hewitt.


"It was a great performance. I was hoping to have a shorter match ... just not to go over 5 hours," Djokovic said, in a comparatively subdued mood after a considerably more routine victory. "It's always going to be tough against Tomas; he's an established player. He has a big game, big serve. He can compete against anyone on any surface."


In the semifinals, Djokovic will meet No. 4-seeded David Ferrer.


Ferrer survived a quarterfinal battle with fellow Spaniard Nicolas Almagro. Almagro had three chances to serve for the match, but Ferrer broke each time.


A usually mild-mannered pro, Ferrer showed his aggression at times when he threatened to spike his racket and even smashed his water bottle in the changeover after he'd dropped serve in a frustrating fourth set that featured eight breaks of serve.


He'd never lost to Almagro in 12 previous meetings and, as the No. 1 Spaniard in the draw in the absence of 11-time major winner Rafael Nadal, felt a responsibility to reach the semis.


"It was (a) miracle I won this match," Ferrer said of his comeback 4-6, 4-6, 7-5, 7-6 (4), 6-2 win. "I tried to fight every point; that's my game. I always fight."


Ferrer survived once in the third set and twice in the fourth when Almagro was serving for the match, but held his nerve and finally advanced to his third semifinal in the last four Grand Slam events.


"In the important moments, I played more consistent in my game," Ferrer said. "Of course, in the next round, the semifinals, I need to play my best tennis, better than today."


Djokovic acknowledged Ferrer's work ethic, saying the 30-year-old Spaniard was "one of the most respected guys on the tour because he never gives up."


"He plays every single match of his career with 100 percent," Djokovic said.


"I'm expecting a long one," he added.


Ferrer has never been past a major semifinal.


There are only three men left in the draw who have won Grand Slam titles — Djokovic has won five, including the last two in Australia. He's aiming to be the first man in the Open era to win three consecutive Australian titles.


The other two are in action Wednesday, with 17-time Grand Slam winner Roger Federer against 2008 Australian finalist Jo-Wilfried Tsonga of France. Andy Murray, who broke the 76-year drought for British men at the major tournaments by winning the U.S. Open last year, will play Jeremy Chardy of France.


On the women's side, defending champion Victoria Azarenka faces Svetlana Kuznetsova, who has won the U.S. Open and the French Open, and 15-time major winner Serena Williams is against 19-year-old American Sloane Stephens, who is playing her first quarterfinal at a Grand Slam.


Maria Sharapova completed a career Grand Slam last year by winning the French Open, a few months after losing the Australian Open final to Azarenka. After her 6-2, 6-2 quarterfinal win over Ekatrina Makarova on Tuesday, she has conceded only nine games in five matches — a record in Australia.


"To be honest, those are not the stats you want to be known for," Sharapova said.


After opening with a pair of 6-0, 6-0 wins, Sharapova thrashed seven-time major winner Venus Williams 6-1, 6-3 in the third round and Belgian Kristen Flipkens 6-0, 6-1 in the fourth.


Li Na has reached the semifinals in three of the last four years at Melbourne Park after beating Agnieszka Radwanska 7-5, 6-3. The 30-year-old Chinese player lost the 2011 final in Australia to Kim Clijsters, then won her breakthrough Grand Slam at the French Open a few months later. She hasn't been back to a major final since.


Djokovic won his first major title in Australia in 2008, then didn't make another final in his next 11 Grand Slam events. He's won four since then and is the top-ranked man in tennis, crediting the lessons from his experiences back then.


"At the start of my career, I went through a lot of different kinds of challenges physically, mentally," he said. "Everybody makes mistakes. I was aware of the fact that I need to improve because I wasn't feeling well, especially in the heat. I had lots of health issues.


"I don't want to go through it again. I am aware of the importance of an everyday practice and recovery basis. So as long as it's like that, I think I'll be all right."


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Sundance 2013: Breaking Glass Pictures acquires “Amelia’s 25th,” “Silver Case”






LOS ANGELES (TheWrap.com) – Breaking Glass Pictures has acquired the rights to “Amelia’s 25th” and “Silver Case,” the distributor announced on Monday.


Neither of the films will be screened at Sundance.






“Amelia’s 25th” stars Jennifer Tilly, Danny Trejo, Electra Avellan and Robert Rodriguez, who directed Trejo and Avellan in “Machete.” The film, directed by Martín Yernazian, follows the titular character (Avellan), a struggling Los Angeles actress about to turn 25.


Breaking Glass CEO Rich Wolff brokered the deal with Karin Kelts of KMK Productions.


Wolff also negotiated the deal with “Silver Case” director Christian Filippella for the North American release of the film, starring Eric Roberts and Vincent DePaul.


“Silver Case” tells the tale of a Hollywood producer concocting a scheme to derail the career of his rival.


Movies News Headlines – Yahoo! News




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Flu season fuels debate over paid sick time laws


NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.


A school speech therapist who works as an independent contractor, she doesn't have paid sick days. So the mother of two reported to work and hoped for the best — and was aching, shivering and coughing by the end of the day. She stayed home the next day, then loaded up on medicine and returned to work.


"It's a balancing act" between physical health and financial well-being, she said.


An unusually early and vigorous flu season is drawing attention to a cause that has scored victories but also hit roadblocks in recent years: mandatory paid sick leave for a third of civilian workers — more than 40 million people — who don't have it.


Supporters and opponents are particularly watching New York City, where lawmakers are weighing a sick leave proposal amid a competitive mayoral race.


Pointing to a flu outbreak that the governor has called a public health emergency, dozens of doctors, nurses, lawmakers and activists — some in surgical masks — rallied Friday on the City Hall steps to call for passage of the measure, which has awaited a City Council vote for nearly three years. Two likely mayoral contenders have also pressed the point.


The flu spike is making people more aware of the argument for sick pay, said Ellen Bravo, executive director of Family Values at Work, which promotes paid sick time initiatives around the country. "There's people who say, 'OK, I get it — you don't want your server coughing on your food,'" she said.


Advocates have cast paid sick time as both a workforce issue akin to parental leave and "living wage" laws, and a public health priority.


But to some business owners, paid sick leave is an impractical and unfair burden for small operations. Critics also say the timing is bad, given the choppy economy and the hardships inflicted by Superstorm Sandy.


Michael Sinensky, an owner of seven bars and restaurants around the city, was against the sick time proposal before Sandy. And after the storm shut down four of his restaurants for days or weeks, costing hundreds of thousands of dollars that his insurers have yet to pay, "we're in survival mode."


"We're at the point, right now, where we cannot afford additional social initiatives," said Sinensky, whose roughly 500 employees switch shifts if they can't work, an arrangement that some restaurateurs say benefits workers because paid sick time wouldn't include tips.


Employees without sick days are more likely to go to work with a contagious illness, send an ill child to school or day care and use hospital emergency rooms for care, according to a 2010 survey by the University of Chicago's National Opinion Research Center. A 2011 study in the American Journal of Public Health estimated that a lack of sick time helped spread 5 million cases of flu-like illness during the 2009 swine flu outbreak.


To be sure, many employees entitled to sick time go to work ill anyway, out of dedication or at least a desire to project it. But the work-through-it ethic is shifting somewhat amid growing awareness about spreading sickness.


"Right now, where companies' incentives lie is butting right up against this concern over people coming into the workplace, infecting others and bringing productivity of a whole company down," said John A. Challenger, CEO of employer consulting firm Challenger, Gray & Christmas.


Paid sick day requirements are often popular in polls, but only four places have them: San Francisco, Seattle, Washington, D.C., and the state of Connecticut. The specific provisions vary.


Milwaukee voters approved a sick time requirement in 2008, but the state Legislature passed a law blocking it. Philadelphia's mayor vetoed a sick leave measure in 2011; lawmakers have since instituted a sick time requirement for businesses with city contracts. Voters rejected a paid sick day measure in Denver in 2011.


In New York, City Councilwoman Gale Brewer's proposal would require up to five paid sick days a year at businesses with at least five employees. It wouldn't include independent contractors, such as Zavala, who supports the idea nonetheless.


The idea boasts such supporters as feminist Gloria Steinem and "Sex and the City" actress Cynthia Nixon, as well as a majority of City Council members and a coalition of unions, women's groups and public health advocates. But it also faces influential opponents, including business groups, Mayor Michael Bloomberg and City Council Speaker Christine Quinn, who has virtually complete control over what matters come to a vote.


Quinn, who is expected to run for mayor, said she considers paid sick leave a worthy goal but doesn't think it would be wise to implement it in a sluggish economy. Two of her likely opponents, Public Advocate Bill de Blasio and Comptroller John Liu, have reiterated calls for paid sick leave in light of the flu season.


While the debate plays out, Emilio Palaguachi is recovering from the flu and looking for a job. The father of four was abruptly fired without explanation earlier this month from his job at a deli after taking a day off to go to a doctor, he said. His former employer couldn't be reached by telephone.


"I needed work," Palaguachi said after Friday's City Hall rally, but "I needed to see the doctor because I'm sick."


___


Associated Press writer Susan Haigh in Hartford, Conn., contributed to this report.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


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Band: Beyonce lip synced US anthem at inaugural


WASHINGTON (AP) — Beyonce lip-synced the national anthem during her rousing performance at President Barack Obama's inauguration, according to the U.S. Marine Band.


A band spokeswoman told news outlets Tuesday that the band was notified at the last minute before the performance that Beyonce would use a pre-recorded voice track. Band members played their instruments live with no intonation problems in the chilly conditions ahead of the national anthem, the spokeswoman said.


"The entire performance was live except for the national anthem," Master Sgt. Kristin duBois told The New York Times and other outlets. "We don't know why. But that is what we were instructed to do so that is what we did. It's not because Beyonce can't sing. We all know Beyonce can sing. We all know the Marine Band can play."


All inaugural music is pre-recorded in case weather conditions or other circumstances could interrupt the program.


A representative for Beyonce did not immediately respond to requests for comment. Kelly Clarkson's representative said she sang live to perform "My Country, 'Tis of Thee."


Inaugural organizers also did not immediately respond to requests for comment on why the musical plans were changed at the last minute.


The use of a recording is typical in big events. In 2009, cellist Yo-Yo Ma was questioned about "hand-syncing" for Obama's first inauguration. Ma said instruments weren't functioning properly in 19-degree weather.


Even in good conditions, producing good sound can be a challenge in a large open space.


Some artists choose to lip-sync. Whitney Houston's memorable performance of the national anthem in 1991 at the Super Bowl was sung to a track.


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Area home sales up 19% in December









More than 7,000 consumers in the Chicago-area bought themselves a home last month, the best finish for the year since December 2006, just before the local housing market's bubble burst.

December sales of existing homes in the nine-county area rose 19.2 percent from a year ago, to 7,372 single-family homes and condominiums sold, the Illinois Association of Realtors reported Tuesday. The median price of $151,500 recorded for the month rose 4.5 percent, from $145,000 in December 2011.

In terms of volume, it was the best monthly performance for the market since December 2006, when 7,530 homes were sold. Twelve months later, in December 2007, the number of homes sold locally had plunged to 5,033.

While it showed improvement, last month's $151,500 median price was far below the December 2007 market high of $247,800.

Pricing recovery was even more evident within the city of Chicago, which recorded a 14.6 percent year-over-year increase in sales, to 1,806 properties sold at a median price of $185,000, up 19.4 percent from December 2011's $155,000.

The pricing improvement is largely a result of the continued shrinking inventory of quality homes on the market, which for months has meant homes are going under contract faster than they have in the past. Sellers of choice properties, whether they are in the traditional market or foreclosures, are fielding multiple offers from potential buyers.

"The 18.9 percent decrease in market time from the same time in 2011 shows a continued clearing of inventory, of both single-family homes and condominiums, which should prompt action among buyers and sellers and continue to promote home price stabilization," said Zeke Morris, president of the Chicago Association of Realtors.

Sales of Chicago condos swelled to 1,037 units sold, up 17.7 percent from a year ago, and the median sales price of $235,000 for a unit was up 28.8 percent from last year.

The median price is the point at which half the homes are sold for more and half for less.

"I believe we're going to have the most promising spring market we've had in years," said Zeke Morris, president of the Chicago Association of Realtors. "We can give (sellers) a slightly more confident expectation."

The pricing improvement is largely a result of the slim pickings of properties listed for sale, which for months has meant homes are going under contract faster than they have in the past.

Compared to a year ago, inventory has plunged. For instance, in Chicago, there were 14,183 homes for sale in December 2011. Last month, there were 8,036 listed properties, or 43.3 percent less. As a result, the average number of days it took to sell a Chicago home fell almost 19 percent year-over-year, to 77 days last month.

Sellers of choice properties, whether they are in the traditional market or foreclosures, are fielding multiple offers from potential buyers, both owner-occupants and investors.

"We have a lot of pending deals out there," said Mabel Guzman, an @properties real estate agent. "Sellers are holding onto their price, knowing they're the only thing in the market. People are going to get frustrated if there isn't enough product to buy."

For the year, 90,365 homes were sold in the Chicago area, a 26.7 percent increase from 2011, while the median price slipped 1.5 percent, to $160,000. In the city, the annualized median price rose 5.7 percent, to $185,000, for the 22,333 homes sold, a gain of 22.4 percent in sales volume.

According to the Federal Home Loan Mortgage Corp., the average commitment rate for a 30-year, fixed-rate mortgage in the Chicago area was 3.32 percent in December, compared with 3.33 percent in November and 3.94 percent in December 2011.

mepodmolik@tribune.com | Twitter @mepodmolik

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