2015 Real Estate Market Outlook

Jonathan Smoke, chief economist at Realtor.com, shared his predictions at our 2015 Real Estate Market Outlook. His presentation highlights the trends to watch for this year.

blue houseState of the Market

  • Housing price gains and low inventory continue to be the leading market trends.
  • In the new year, the current low inventory continues to restrict the housing market, and  we will look for supply to increase to bring relief.
  • Federal action to ease mortgage credit will help fuel renewed interest from potential buyers who previously were blocked by tighter lending standards.
  • Homeowners looking for a reason to sell now should be motivated by the current low rates, as rates are expected to creep up later this year.
  • In the coming year, we’ll continue to see progress in the housing recovery, as inventory continues to come online to create a more balanced market.

Information courtesy of Chicago Realtor Karen Breen Elia.

MAKING A POSITIVE DIFFERENCE IN PEOPLE’S LIVES.

Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago’s North Side.

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Chicago IL 60657
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