State's real estate market sees affordability improve
The US housing market, particularly in the Chicago region, is expected to see improvements in affordability in 2026, with a predicted 4.3% increase in home sales. However, Chicago's housing market may tell a different story due to a dwindling number of listings and steady demand, which could lead to increased competition among buyers and higher prices.
The Chicago housing market has seen a strong start to the year, with some agents reporting more deals in January than they typically do in a year. Home sales in the greater Chicago region rose 0.6% year over year in 2025, with nearly 89,100 homes sold. Across Illinois, home sales grew 4.2% compared to 2024. The median sale price for a Chicago home rose over 5% last year to $375,000. Housing experts predict that 2026 will be a stronger year for the US housing market, with improving affordability and home value appreciation. However, Chicago's market may be affected by a lack of homes and increasing prices.
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