In our last issue, our panel of experts predicted that we’d continue to see slow and steady growth in both the national and local real estate markets. No wild swings or dire warnings – just slow and steady growth. In December, unemployment rose to 5.4 percent for the Chicago-Naperville-Elgin area, slightly higher than the national rate, which has remained at or near 5.0 percent for several weeks. A notable increase in foreign investment in Chicago, minimal disturbance from TRID and steady growth in new construction (which promises to continue into 2016) make for a favorable environment for agents heading into the new year.
In our Market Outlook issue, our first issue in 2016, our cover story takes a deeper dive into projections for home sales, home price growth, new construction, home starts, Millennial homebuying trends and more to give our readers a more complete picture of what to expect in this year’s market. Turn to page 18 for the full story.
What does the future hold for you and your business? How do you feel about 2016’s market? We want to hear from you. Email me your thoughts at [email protected]