Market Stats

What effect will inflation, rising mortgage interest rates and supply have on Illinois’ housing market in 2022? Will today’s trends affect first-time home buyers and those who want to move out of starter homes the same way? What is the market for renters? Join the University of Illinois at Chicago’s Dr. Daniel McMillen for an analysis of the key issues in Illinois’ 2022 housing market.

In a new podcast, we talk to Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate at the University of Illinois at Chicago College of Business Administration, about his forecast for next year’s market.

Illinois REALTORS® sat down with University of Illinois economists to talk about what is happening in the housing market and what to expect through the end of the year.

Illinois REALTORS® President Ed Neaves talks with NAR Chief Economist Lawrence Yun about what REALTORS® can expect as the industry begins its transition out of the COVID-19 pandemic slowdown.

Illinois REALTORS® | www.IllinoisRealtors.org/ROI

Foreclosure inventory had steadily declined between 2012 and 2017, but in recent years has begun to climb again. What is causing the increase? And as the pandemic has prompted many Illinois homeowners to delay mortgage payments through forbearance, what will that mean for future foreclosure trends? Learn more in this quick 5-minute video.

Geoffrey J.D. Hewings, director emeritus of the Regional Economics Applications Laboratory (REAL) at the University of Illinois, talks about recent population trends in Illinois and whether the COVID-19 outbreak will have an impact on future migration. Get the update with this 4-minute video.

Low housing inventory has been an ongoing issue in Illinois and nationally, and inventory has fallen even lower during the pandemic. What can we expect in terms of inventory in the months ahead, and how will it affect the housing market? Learn more in this quick, 3-minute video.

How will unemployment levels impact the Illinois housing market and the greater economy? Geoffrey J.D. Hewings, director emeritus of the Regional Economics Applications Laboratory (REAL) at the University of Illinois, shares his predictions. Get the update in 3 short minutes.

In the short run, the COVID-19 outbreak will likely negatively affect homes sales—but only time will tell if the economy will affect average home prices which have had a positive, upward trend, says Geoffrey J.D. Hewings, director emeritus of the Regional Economics Applications Laboratory (REAL) at the University of Illinois. And what are the ripple effect on the economy? Get the forecast in 4 short minutes.