As the end of 2025 comes into view, now’s a good time to slow our strides and take a breath. It’s been a bumpy year for those in the real estate industry. Interest rates have remained well above 6%, driving many existing homeowners with lower-cost loans to stay put, keeping inventory tight and prices high. 

The impact of these conditions has shown up in the demographics of first-time buyers, who are now older than ever and make up the smallest share of homebuyers on record, as we note in our coverage of the National Association of REALTORS’® annual Profile of Home Buyers and Sellers. 

In other NAR news, the group recently wrapped up its NAR NXT conference. The association will no longer require agents to be Realtors to access multiple listing services — instead delegating that decision to local MLSs in an effort to reduce antitrust legal risk. 

The association approved a new three-year strategic plan, which aims to rebuild trust with membership as well as the general public through “the largest transformation in real estate history,” as CEO Nykia Wright put it. 

NAR Chief Economist Lawrence Yun also outlined a bullish prediction at the conference, telling attendees he expects existing-home sales to rebound 14% next year — which brings us to our cover story. 

In our annual predictions issue, we tap over a dozen leaders in Chicago’s residential brokerage, lending and development fields to give us the lowdown on what they expect the new year to bring. In their own words, they paint an optimistic picture with increased homeownership opportunities and a more traditional market balanced between buyer and seller. 

On that hopeful note, we at Chicago Agent wish you all a happy holiday season and a productive new year.