For more than 20 years, Dr. Geoffrey Hewings has monitored the housing market in Illinois.
This year, the director emeritus of the Regional Economic Applications Laboratory at the University of Illinois, Champaign, says mixed economic signals are playing a role in the state's economy. He sat down with the Illinois REALTORS® Podcast in the final weeks of the year to talk about what's ahead for the housing market.
Hewings says overall home sales in the state may see a slight dip, but median prices are projected to increase. Housing inventories will continue to pose a challenge for consumers, he says.
Interested in learning more? You can also read Hewings' annual forecast for 2020.