Economist shares factors that will help housing and where the supply of future buyers will come from

Higher rental rates, low mortgage interest rates and fewer new homes in the pipeline should work in favor for the Illinois housing market in the months ahead, says University of Illinois economist Dr. Geoffrey Hewings, director of the Regional Economics Applications Laboratory (REAL) headquartered in Urbana.

In this video recorded mid-August, he points to pent-up demand from retirees who’ve so far stayed put and people relocating for jobs—especially as the job market picks up—as key sources for the next stage of homebuying and selling.

This entry was posted in Housing Market and tagged , , , by Ann Londrigan. Bookmark the permalink.

About Ann Londrigan

Ann Londrigan is Director of Association Outreach and Marketing for the Illinois Association of REALTORS®. She is responsible for increasing member engagement in and awareness for IAR Governmental Affairs and the RVOICE program as well as increasing participation in the REALTORS® Political Action Committee. She is responsible for overall marketing plans for IAR member benefits, educational products and events and is the content manager for IAR's Facebook page and LinkedIn discussion group. She manages the IAR Welcome Center, serves as staff liaison to the University of Illinois Regional Economics Applications Laboratory, and coordinates the IAR housing stats program.

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