Chicago Real Estate Market Outlook – 2023

Happy New Year everyone!

We have high hopes for 2023 and while we can’t predict the future, we are optimistic about the Chicago Real Estate Market. Chicago has so much to offer: from its vibrant downtown, to the fantastic theatre and art scene and its rich history of historical architecture – what’s not to love!

Chicago is also one of the most affordable amongst the major US cities. While we’ve seen a slower downtown market during the past few years with Covid, coupled with a hotter suburban market, we didn’t experience the insanely extravagant price swings that other areas of the country saw. Stability is our friend here and educated buyers will realize that they can take advantage of a slower but more stable market and can always refinance down the line once interest rates decrease. At the end of the day people have ever changing housing needs and will always need homes. And now, with millennials emerging as the newest class of homebuyers and with the hybrid work from home / office split here to stay, I believe we will see these new families come to market, ready to stop renting and put equity into their own home.

We are here and excited for what’s to come in 2023 and most importantly we’re looking forward to helping you find your home!