Illinois Realtors

📊Illinois home prices continued to rise in August, even as sales and available inventory declined from a year ago.

🔹 Statewide inventory decreased 4.7% to 22,531 homes for sale
🔹 Chicago Metro: Home sales decreased 4.5% to 8,153
🔹 City of Chicago: Median home price up 8.0% to $405,000
🔹 Average 30-year fixed mortgage rate: 6.67%, up from 6.59% last year.

“The Illinois housing market is showing signs of a seasonal slowdown as summer ends, but demand continues to support higher home prices,” said Jeff Kolbus, president of Illinois REALTORS®. “With inventory still below last year’s level, expanding the supply of homes remains essential to giving buyers more choices.”

📍 Dive into the full stats:
www.IllinoisRealtors.org/MarketStats

Chicago City Hall Update: After a lengthy Zoning Committee hearing, alderpersons voted to advance the Fair and Accountable Illinois Rental (FAIR) Ordinance — an alternative to the Mayor's Protecting Renters Ordinance (PRO). Both ordinances will be up for consideration at next week's city council meeting.

REALTORS® take action and make your voice heard! Tell the Chicago City Council to say NO to PRO.
👉 https://dontraiserents.com/

Technology is changing real estate. But people still do business with people. The human connection remains one of your greatest advantages. At Illinois REALTORS ® REignite Fall Conference, Tara Renze will share six principles of the human advantage and show how emotional intelligence can help power stronger performance in today’s changing industry.

🎤 The Human Edge: Emotional Intelligence Practices That Power Performance
📅 Sept. 29
🎟️ FREE for all Illinois REALTORS®. Register at www.IllinoisRealtors.org/REignite
📍 Lombard

⚡ Real estate is changing. Standing still isn’t an option. The REALTORS® who pivot, adapt and take action will be the ones who stand out. At Illinois REALTORS® REignite Fall Conference, Jared James will show you how to navigate the new era of real estate — with practical strategies you can put to work right away.

📍 Lombard
📅 Sept. 28–30
🎤 How to Win in the New Era of Real Estate

Don’t just adapt to change. Use it to move forward.
Register now: www.IllinoisRealtors.org/REignite

Illinois REALTORS® Governmental Affairs Director Audrey Harding shares how a proposed Chicago housing ordinance could drive rents higher and negatively impact housing opportunities in the city.

As HousingWire highlights, Illinois’ housing crisis has been years in the making—and so has OUR work to address it. 🏘️

Our new Illinois Housing Supply Accelerator Program is the result of years of thoughtful work to create a tool that can help communities tackle today’s housing supply challenges. In this HousingWire coverage and an interview with Fox 32, CEO Jeff Baker shares the story behind the program, the long road to bringing it to life, and why this work matters now.

🏡 Where is the housing market headed next?

NAR Economist Dr. Jessica Lautz will be breaking down the housing outlook at our REignite Fall Conference on Sept. 29 in Lombard. Register NOW to learn:

📈 What’s happening in today’s housing market
🔮 What to expect in 2027
💡 Opportunities to watch
👥 How demographics are shaping and changing the housing market

Reserve your spot! https://bit.ly/4cw2UYf

📊 “The Institute for Housing Studies’(IHS) three-month forecast projects that closed sales activity during August, September, and October will be about 0.4 percent higher than a year earlier, while single-family home prices in October are expected to be about 5.5 percent higher. Despite limited growth in sales, tight inventories continue to put upward pressure on home prices,” said Geoff Smith, Executive Director, Institute for Housing Studies at DePaul University in Chicago.

“Combined with elevated mortgage rates, those rising prices are creating significant affordability challenges for prospective homebuyers and limiting overall market activity.”

🔗 Find Illinois housing stats, data and the forecast at https://lnkd.in/gHXP # # #.