IRPINO Real Estate’s 2022 Annual Report: State of the Chicagoland Real Estate Market
Posted by Jenny Maraccini on January 26, 2023
We are so excited to provide you with something of significant value — our 2022 Annual Report for the Chicago Real Estate Market.
Here at IRPINO Real Estate in Chicago, we are proud to not only be your local Uptown, Chicago real estate broker, but also a knowledge broker providing helpful information about the state of the market. Our 2022 report, which you can get below, includes both Chicagoland data as well as local data here in the Uptown neighborhood.
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Giving Back to Our Uptown Chicago Community
IRPINO Real Estate is more thankful than ever for our team, our clients and our family. Through all the ups and downs these past few years, we are grateful to have had the opportunity to help many new and repeat clients buy and sell homes in 2022.
As a part of our mission, we continued to give back to charitable causes and did our part in supporting local businesses throughout the community. We participated in many events for our local high school, Uplift Community High School, held a community meeting for our Buena Park Neighbors, continued our involvement with the Uptown Chamber of Commerce and their events, and held a food drive and team volunteer day at Nourishing Hope. We look forward to continuing this work into 2023 and beyond.
The 2023 Chicago Real Estate Market
What does 2023 hold for the housing market industry? Some experts call for slight appreciation and some call for slight depreciation on a national level. In short, home price appreciation will vary by local market. It’s all about supply and demand. But, the average is neutral price appreciation for the country.
Where mortgage rates will go from here largely depends on what happens with inflation in the year ahead. Home sales are projected to be lower than 2022 due to higher mortgage rates that have been moderated buyer demand.
“…mortgage rates could pull back meaningfully next year if inflation pressures ease.” – Greg McBride, Chief Financial Analyst, Bankrate
If you or someone you know is looking to Buy, Sell, or Invest in Real Estate in 2023, or if you’re interested in your home’s current market value, feel free to contact us and we can help!
Should you have any questions, please feel free to call or email us any time. We are always here for YOU.
Dominic Irpino Managing Broker IRPINO Real Estate d@irpinogroup.com 773.525.0900 irpinorealestate.com
