Chicago Real Estate Market in Question for 2017

The real estate market has been questionable throughout the United States since the crash of the housing market in 2007 and 2008. That said, some markets haven't recovered to this day.

Recently, Realtor.com released their 2017 National Housing Forecast report. The report illustrated five key trends for the coming year:

1. The housing market will be dominated by baby boomers and millennials.
2. Millennials will display a continued attraction to the Midwest.
3. Price appreciation will reach a slowdown.
4. Fewer homes will hit the market.
5. The West will continually head the United States in both property sales and prices.

Most importantly, Realtor.com listed the Chicago-Naperville-Elgin, Ill.-Ind.-Wis. at 100 out of 100 with the lowest price and sales increases at 1.95% and 2.27%, respectively. To find out how these trends may affect you, or to discuss your property's closing, reach out to us at Cambridge Title Company via phone at 224-330-1886 or email at info@cambridgetitleco.com.