Chicagoland real estate experts offer their predictions for 2023

by Timothy Inklebarger

In a market like we’ve seen over the last year, who would dare predict what lies ahead in 2023? While most of us ride the economic wave with all of its twists and turns, it’s the industry professionals in leadership positions who have to anticipate what’s next, when that change will take place and how best to adapt and thrive.

That’s why we’ve drawn from the expertise of some of the top minds in the market to hear how they’re preparing for the next 12 months. The big question on everyone’s mind is whether the wild fluctuations in interest rates will begin to even out, but what else is keeping these executives up at night?

In our annual questionnaire, we hear from managing brokers, mortgage lenders, developers and more to get their prognostications on everything from what’s hot in the market to how prices, inventory and a myriad other factors shape their vision of the future.

Our panel of experts includes:

Howard Ackerman,
Vice President and Mortgage Production Manager, Regions Bank

Jennifer Ames,
CEO and License Partner, Engel & Völkers Chicago

Tim Brigham,
Branch Manager, Union Home Mortgage

Liz Brooks,
Executive Vice President of Sales and Marketing, Belgravia Group

Fran Broude,
Regional Vice President-Midwest North, Compass

Jeremy Collett,
Executive Director of Capital Markets, Guaranteed Rate

Ryan Doehrmann,
Chief Mortgage Officer, GreenState Credit Union

Matt Horney,
Executive Director, Senior Lending Manager for Illinois and Wisconsin, JPMorgan Chase & Co.

John Matthews,
Senior Vice President of Residential Sales, Baird & Warner

Jim Miller,
COO, Executive Vice President, Designated Managing Broker – City Offices, Jameson Sotheby’s International Realty

Mark Pasquesi,
President, Berkshire Hathaway HomeServices Chicago

Esther Phillips,
Senior Vice President, Director of Sales, Key Mortgage Services

Ayoub Rabah,
President, Coldwell Banker Realty, Central West Region

Steve Rettig,
Regional/State Managing Broker, eXp Realty Illinois

Tim Tuz,
Senior Vice President – Capital Markets, Wintrust

Ted Weldon,
Executive General Manager of Development, Lendlease Chicago

David Wolf,
President, Wolf Development Strategies

Thad Wong, Co-Founder and Co-CEO, @properties



Click the categories below to read what our real estate experts predict for 2023



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