Last year, many of the participants in our 2017 predictions issue expressed confidence in the Chicagoland real estate market, citing increased housing demand and favorable market conditions. Twelve months later, the U.S. economy continues to see low unemployment and steady wage growth, which in turn has kept consumer confidence at a high level. But the new tax plan set to go into effect next year, along with local concerns such as low housing inventory and rising home costs, have tempered expectations about local real estate in 2018. Still, there is plenty of cause for optimism and many opportunities ahead, from new construction to advanced technology.
To provide further insight into the future of Chicagoland real estate, we assembled an expert panel of Chicagoland real estate professionals, including association executives, CEOs, presidents, managing brokers, agents and mortgage lenders. Read on to see what these industry leaders predict for the new year.