Chicago Market Update | 2025 Pre-Spring Chicago Real Estate Market Update

On today's episode, I delve into what influences the Chicago Real Estate Market:

1. According to Lawrence Yun, Chief Economist for the National Association of Realtors, home prices could rise as high as 9-13% in 2025; however, it largely depends on how high the housing inventory rises this year. 
2. In 2025, we may see a trend that more sellers and buyers are ready to dip back into the market as housing inventory increases.
3. Also, according to Mr. Yun, homeowners have a record-high housing equity.
4. The 30-year fixed mortgage rate continued to inch down last week, reaching its lowest level since December 2024. As of February 14, 2025, the average mortgage rate is 6.87%.
5. In 2024, 106 homes sold for $4M+, up from 73 sales of $4M in 2023 and the second biggest year after 2022 (136 sales).

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Тэги:

#Chicago_Real_Estate #Verigs_Eiland #Chicago_Realtor #Real_Estate_in_Chicago

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