“MBA expects solid growth in purchase activity this year, as demographic drivers and the strong economy support housing demand. However, the strength in growth will be dependent on housing inventory growing more rapidly to meet demand.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan

Compass has released its Chicagoland 2022 housing forecast, based on a survey of 100 local real estate agents. And overall, they predict this year to be a sellers’ market.

Ground has broken on Embry, a 15-story luxury boutique condominium in the West Loop. The Chicago-based real estate developer Sulo Development is heading construction, with completion set for spring of 2023.

The forecast is in, thanks to the Zillow® November Market Report — and it’s looking to be an unseasonably warm winter for real estate.

Nationally, housing prices were also on the rise, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. 

Fears of an economic fallout are causing long-term U.S. mortgage rates to fall as the newest COVID-19 strain reignites worry among Americans. 

2021 was a fascinating year for the real estate market — particularly in Chicagoland. Check out the hometown stories which most interested our Chicago readers.

Throughout the year, our monthly cover stories reflected the changing tides of the real estate market. Check out the top 10 issues which most interested our readers during this remarkable year.

The seasonal housing cooldown may end early this year according to Zillow’s latest market report.

Eviction filings are rising as millions of Americans are being forced from their homes months after lawmakers allowed the federally imposed eviction moratorium to expire. 

“The market is roaring along, with only half the seasonal slowdown we typically see from October to November.” — RE/MAX LLC President Nick Bailey

GreenState Credit Union, one of the largest credit unions in the Midwest, has purchased Midwest Community Bank and its subsidiary Blueleaf Lending.

The pandemic and work-from-home orders have changed where, when and why people buy homes. As a result, housing prices hit the highest median of all time in 2021, as the number of homes for sale fell to an all-time low and the demand for second homes surged, according to a new Redfin report. 

The National Association of REALTORS®  applauded President Joe Biden’s nomination of acting Federal Housing Finance Agency director Sandra Thompson to serve in a permanent capacity.. “Her talents and experience will benefit the enterprises, homeowners and home buyers and the mortgage-financing ecosystem,” NAR President Leslie Rouda Smith said in a press release.

In a recent study, StorageCafé identified the suburbs with the biggest city vibes — and Chicagoland suburbs ranked high on the list.

After spending two years with Compass, the MacPherson Group has returned to @properties.