Current real estate market updates

Chicago skyscrapers surrounded by tulips / ar on the bottom right

While much of the U.S. housing market began to cool in February, Chicago went in the opposite direction, intensifying, giving seller’s an advantage. A drop in available listings forced a fast-paced environment where homes sold in around half the time it took nationally, and price reductions remained sparse. This shift left sellers firmly in the driver's seat, leaving prospective buyers to navigate a landscape defined by scarce options and limited leverage. Keep readying to get a full breakdown of the recent updates.

1. chicago’s inventory drop fuels higher competition.

Prospective buyers in the Chicago area are facing tightening inventory as available homes continue to dwindle. In February, active listings plummeted, with a significant…

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2026 real estate market outlook

As we step into the new year, the real estate market continues to evolve, presenting both challenges and opportunities.  For both buyers and sellers, understanding these evolving trends is crucial to making informed and successful decisions.

1. lower mortgage rates

Mortgage rates have already begun to dip, and the downward trend is expected to continue. The National Association of REALTORS® are predicting rates to even hit 6% soon. Even a slight decline could activate a wave of buyers currently waiting on the sidelines. These falling rates may also give homeowners with low locked-in rates the confidence to finally list their properties. This anticipated surge in market activity has sparked a sense of renewed…

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summer 2025 real estate market outlook

As we head into Summer 2025, the real estate market continues to evolve. After a period of rapid appreciation and limited inventory, we're seeing signs of a more balanced, yet still competitive, market. For both buyers and sellers, understanding these evolving trends is crucial to making informed and successful decisions.

1. mortgage rates: holding steady

While we won't be returning to the historically low rates seen during the pandemic, the dramatic swings of the past few years seem to be settling. Experts predict the 30-year fixed-rate mortgage will largely hover in the mid-6% range.

2. homes for sale: a slow climb for more choices

Good news for buyers in Illinois: the number of homes for sale is…

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Zillow and Redfin announce new rules: why you need a REALTOR® now more than ever

The real estate industry is buzzing with the recent responses of Zillow and Redfin to the National Association of Realtors® (NAR)'s updated listing policy. Under the new policy, home sellers will now have the option to instruct their brokers to market their properties without immediately listing them on the large-scale Multiple Listing Service (MLS) or Participant Listing Network (PLN) within the first 24 hours of marketing. The move allows Sellers to have more control and decision power in how their property is advertised, from both a privacy and strategy point of view. In a significant reaction, both Zillow and Redfin have announced that they will ban any listing…

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a positive real estate market outlook for 2025

As we step into the new year, the real estate market continues to evolve, presenting both challenges and opportunities. According to Lawrence Yun, chief economist of the National Association of REALTORS®, the market is on a positive path forward. Below are key factors shaping the 2025 housing market and what they mean for those looking to buy or sell their homes. 

1. rising home sales.

Home sales are expected to rise in 2025, driven by favorable market conditions that encourage increased activity. The rise in population hasn't matched the rise in home sales, signaling there is pent up demand and can indicate a strong market ahead. Additionally, the influx of new jobs further supports a positive…

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summer 2024 real estate market outlook

The housing market is an ever-evolving landscape, influenced by various factors such as economic conditions, demographic shifts, and buyer/seller behaviors. As we look ahead to the summer, we'll analyze what's next for the real estate market, especially with all the new commission changes on the horizon. In this blog, we delve into some of the predictions and insights offered by experts in the field, to gain a glimpse into the possible trajectory of the housing market in the coming months.

1. high demand, low inventory.

Demand for homes has continued to increase; however, high mortgage rates and lower inventory have caused existing-home sales to decline. Experts predict that sales may increase slightly,…

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What The NAR Settlement Means For Buyers And Sellers

The recent National Association of Realtors® (NAR) settlement will update the long-time practice of sellers paying commissions towards agents who introduce a buyer to a property. In short starting mid-August, Realtor® members who are listing property will no longer be able to share compensation offers to buyer's agents through the MLS. Instead, buyers and their agents will be required to have their own upfront written agreements specifying the fee for these real estate services. These changes will shift some of the ways buyers and sellers approach real estate transactions.

what this means for sellers

Up until now, Sellers who listed their property with a brokerage were advised of a practice…

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2024 housing market outlook

As we step into the new year, the real estate market continues to evolve, presenting both challenges and opportunities. Below are key factors shaping the 2024 housing market and what they mean for those looking to buy or sell their homes.

1. low inventory levels.

Looking forward, demand will most likely continue to exceed supply. Illinois specifically has a slow growth in the number of homes being built compared to the rest of the country. Predictions of slight mortgage rate declines would help bring more home sellers into the market and increase the amount of inventory, however, it is unlikely that we'll see a drastic change from the status quo. 

2. mortgage rates could decrease.

While mortgage rates have…

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where is the market moving?

With high interest rates, low inventory, and competition in the market not letting up, what should buyers and sellers really be doing now? Here's our analysis for approaching the market with what's best for you.

the unpredictability of interest rates

Even though we see extensive forecasting and analysis on interest rates from experts, nobody truly knows what lies ahead. Time and again, predictions have been made, and the outcomes have not matched expectations. Recently, economic strategists have mentioned the possibility of an intentional pushing of rates to generate a controlled recession. This strategy aims to prevent inflation from spiraling out of control. While this would mean rate could remain higher for the…

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A look at the summer real estate market

The housing market is a dynamic and ever-evolving landscape, influenced by various factors such as economic conditions, demographic shifts, and buyer/seller behaviors. As we look ahead to the summer, it's natural to wonder what lies in store for the real estate industry. In this blog, we delve into some of the predictions and insights offered by experts in the field, to gain a glimpse into the possible trajectory of the housing market in the coming months.

1. continued demand and tight inventory.

One key trend anticipated in the housing market is the continuation of buyer demand, even if it's lower than the previous year. The supply of available homes is expected to remain tight, which still creates…

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