Housing Price Forecasts
The Illinois Association of REALTORS® has formed an alliance with the University of Illinois Regional Economics Applications Laboratory (REAL) to provide economic analysis and research linking monthly economic indicators with real estate trends and real estate indicators for the state of Illinois as a whole and 10 major metropolitan areas. Economists for the University of Illinois have developed an accurate forecasting model based on price and sales data generated from the IAR survey of multiple listing service data reported by 35 Illinois REALTOR local boards and associations. Market analysis from the U of I economists will be reported monthly for Illinois and the Chicagoland PMSA and quarterly including these major metros: Bloomington-Normal, Champaign-Urbana, Davenport-Moline-Rock Island, Decatur, Kankakee, Metro East, Peoria-Pekin, Rockford and Springfield.
October 2007 Forecast PDF