What’s actually happening with Chicago mortgages right now — and how should Chicago buyers think about financing in 2026?Today I sit down with my trusted lending partner, Dan Gjeldum, to break down what’s really happening in the Chicago real estate market this spring — from mortgage rates under 6% to appraisal waivers, ARM products, refinancing strategy, and how to compete in multiple-offer situations.If you’re a Chicago homebuyer, especially a first-time homebuyer, this conversation is essential. We’re cutting through the noise and giving you real-world strategy for navigating Chicago real estate in a competitive, low-inventory environment.

What We Cover in This Chicago Mortgage & Market Update

✔️ Where Mortgage Rates Stand in 2026

✔️ Should Chicago Buyers Keep Waiting?

✔️ Cash Offers Subject to Financing

✔️ Appraisal Gaps & Appraisal Waivers

✔️ Are ARM Loans Making a Comeback?

✔️ Refinancing Strategy for Chicago Homeowners

✔️ New Fed Chair & Market Impact

Meet Amanda McMillan – Your Chicago Real Estate Strategist

Amanda is the #1 producing agent in the @properties Christie’s International Real Estate Bucktown office and a data-driven advocate for Chicago buyers and sellers. She combines hyper-local market expertise with strategic lending partnerships to help clients compete confidently in one of the most nuanced urban markets in the country.

CHICAGO REAL ESTATE ACCOLADES:

✔ Top 1% of Chicago REALTORS® for closed volume & transactions (2006–2025)

✔ $50M+ in annual Chicago home sales

✔ 200+ 5-star reviews across Zillow, Google, Yelp & more

Looking beyond Chicago? As part of the Christie’s International Real Estate network, Amanda helps clients buy, sell, and invest nationally and globally.

🔔 Subscribe for straight-talk advice on Chicago real estate, Chicago mortgages, and smart homebuying strategy.

What really happened in the Chicago real estate market in 2025 — and what does it mean for buyers, sellers, and homeowners heading into 2026?In this annual Chicago Home Partner Market Report, we break down the data, revisit last year’s predictions, and give you a clear, honest look at where the Chicago housing market stands today. From rising home prices and shrinking inventory to interest rates, buyer demand, and consumer confidence, this is the most comprehensive Chicago real estate update of the year. 📊 What We Cover in This 2025 Chicago Real Estate Report✔️ Chicago Home Prices– Overall median home prices rose ~6.5% in 2025– Single-family home prices jumped nearly 13%– Why location, property type, and scarcity continue to drive appreciation✔️ Housing Inventory in Chicago– Total inventory declined 13% year-over-year– Single-family home inventory dropped more than 20%– Condo inventory also tightened, adding pressure across all price points✔️ Interest Rates & Mortgage Trends– Average mortgage rates fell from 6.72% (2024) to ~6.3% (2025)– Why rates didn’t drop further — and why waiting can actually cost buyers more– What to expect for rates in 2026✔️ Home Sales & Buyer Demand– Home sales increased slightly despite fewer homes available– What strong buyer demand signals about market strength– Why Chicago continues to outperform many national markets✔️ Days on Market & Competition– Homes are selling faster, with average days on market declining– Why competitive markets don’t always mean “instant” sales– How pricing strategy matters more than ever✔️ Consumer Confidence & the Bigger Picture– Why consumer confidence declined sharply in 2025– How inflation, cost of living, and uncertainty affect housing decisions– What buyers and sellers should focus on despite the noise🧭 Looking Ahead: Chicago Real Estate Forecast for 2026We also share forward-looking insights on:Where Chicago home prices are headedWhether inventory is likely to improve (or not)How interest rates could move throughout 2026What today’s buyers and sellers should be preparing for now📍 About This ReportThis data focuses on Chicago’s North Side neighborhoods, from the river north to Rogers Park and west to areas like the West Loop, Logan Square, Humboldt Park, Jefferson Park, and beyond. It includes all residential property types — single-family homes, condos, and townhomes — with important distinctions explained throughout.

Rate top lender Dan Gjeldum and I break down why the lender you choose matters more than ever in Chicago—especially with condos, competitive situations, and today’s rate environment. If you want to avoid financing disasters, strengthen your offer, and actually win the home you love, this is the episode you need to watch.Mortgage and Lending Information:• The truth about “online lenders” and why impressive websites and teaser rates don’t always translate into smooth closings• Why using an out-of-state or online-only lender can be risky when you’re buying a Chicago condo (HOAs, budgets, reviews, and local underwriting quirks are a different world here)• How a well-known, locally active lender can help your offer stand out—even against higher or all-cash offers• The difference between pre-qualification, pre-approval, and fully underwritten approvals (and why listing agents treat them very differently)• Smart strategies for competitive offers: stronger down payments, “cash subject to financing,” and how your lender can actively sell you to the listing agentLending Programs Today:• Newer and lesser-known loan options for today’s buyers:– Bank statement loans for self-employed buyers– Asset-based and retirement-income strategies– ARM products (7- and 10-year ARMs) and when they actually make sense Buyer and Seller Challenges:• What today’s first-time buyers are asking about most—affordability, rates, grants (and what’s disappeared), and how to think about refinancing in the next few years• How non-citizens, visa holders, and minority buyers are being impacted by lending changes and fear in the marketplace• The classic question: “Should I rent or buy right now?”—and how to weigh lifestyle, flexibility, and long-term wealth-building• The biggest mistakes Chicago buyers make: going it alone without a team, choosing the wrong attorney, overspending and becoming house poor, and not thinking about how their needs will change in 3–7 yearsAt the end of the day, Chicago is the “smallest big city” in the country—relationships and reputation matter. The lender you choose, the agent you work with, and the attorney on your team can literally be the difference between winning a great home… or watching it go to someone else.Whether you’re buying your first condo in Lakeview, moving up to a single-family home in Logan Square, or debating if now is the right time to jump from renting to owning, this episode will give you a behind-the-scenes look at how financing really works in Chicago—and how to avoid costly mistakes.CONNECT WITH AMANDA:📧 [email protected]☎️ 773.537.1300🟦 Thinking about buying or selling a home in Chicago?Whether you're a first-time homebuyer, a move-up seller, or an investor trying to navigate today’s lending landscape, subscribe for real-world insight on:• Chicago real estate market trends• Condo vs single-family financing in the city• How to make your offer stand out (even without being all cash)• Structuring your loan so it fits both your lifestyle and long-term wealth plan🏡 Meet Amanda McMillan – Your Chicago Real Estate StrategistAmanda is the #1 producing agent in the @properties Christie's Bucktown office and a data-driven advocate for Chicago buyers and sellers. She pairs deep market knowledge with trusted lender and attorney partners to help clients compete with confidence in one of the most nuanced urban markets in the country.CHICAGO REAL ESTATE ACCOLADES:✔ Top 1% of Chicago REALTORS® for closed volume & transactions (2006–2023)✔ $50M+ in Chicago home sales annually✔ 200+ 5-star reviews on Zillow, Google, Yelp & moreLooking beyond Chicago? As part of the Christie's International Real Estate network, Amanda helps clients buy, sell, and invest across the country and around the globe—whether it’s a luxury home in the city, a starter condo on the North Side, or a second home in another market.

Chicago home prices are up nearly 7% so far this year, YET, national headlines paint a picture of housing chaos. Chicago continues to stand out as one of the most stable, resilient real estate markets in the U.S. Forget the doom sayers and CRASH predictions of other pundits - they’ve been saying that for years and don’t tell the hyperlocal story about our great city Chicago.

From inventory challenges to interest rates, pricing trends to buyer and seller behavior—my mortgage expert Dan Gjeldum and I break down exactly what’s happening in Chicago real estate right now, and why our city has been insulated from much of the turbulence seen in other metro areas.

If you’re a Chicago homeowner or future homebuyer, this episode will give you clarity, data, and strategies you won’t hear on the nightly news.

📊 Here’s what we cover in this episode:

* Why Chicago home prices are up ~7% YTD despite national uncertainty

* How limited inventory continues to drive competition (yes, multiple offers are still happening!)

* The impact of interest rates on Chicago home buyers and why waiting may cost you more

* Why Chicago avoided the extreme housing swings seen in markets like Florida, Texas, and Arizona

* Buyer behavior shifts: the surge in demand for turnkey homes and avoidance of costly renovations

* Seller strategies: timing, staging, and small improvements that maximize your Chicago home value

* The critical role of new construction—and why slow development is clogging our market

* Seasonality in the Chicago housing market and why the second half of the year often looks different than the spring rush

Whether you’re considering buying your first Chicago condo, moving up to a single-family home, or selling in today’s market, this episode is packed with insights that will help you make smarter decisions.

CONNECT WITH AMANDA: [email protected] ☎️ 773.537.1300 🟦 Thinking about buying or selling a home in Chicago? Whether you're a first-time homebuyer in Chicago, a seasoned homeowner, or a real estate investor looking for the next opportunity, subscribe to our channel for expert insights on Chicago real estate market trends, home values, financing strategies, and tips to navigate the Chicago homebuying and homeselling process like a pro.🏡 Meet Amanda McMillan – the #1 producing Chicago real estate agent at @properties Bucktown. A true market strategist, Amanda leverages deep data analysis on Chicago real estate trends, local buyer demand, and national financial shifts to help clients make smarter home-buying and selling decisions.CHICAGO REAL ESTATE ACCOLADES:✔ $50M+ in Chicago home sales annually✔ Ranked in the Top 1% of Chicago Realtors for closed volume & transactions✔ 200+ 5-star reviews on Zillow, Google, and YelpLooking beyond Chicago? As a global real estate expert affiliated with Christie's International Real Estate, Amanda helps clients buy, sell, and invest in real estate worldwide. Whether you're seeking luxury homes in Chicago, a starter condo in Lincoln Park, or an investment property in Bucktown, Amanda's expertise ensures a seamless experience.🔔 Subscribe now for the best Chicago home buying and selling advice from a top-producing Chicago real estate expert!

Thinking about leaving the city for more space, top-tier schools, or a simpler lifestyle?

In this episode of Chicago Home Partner, I sit down with one of my favorite collaborators—and Western Suburbs expert—Brian Bomba, to break down everything you need to know if you’re considering a move west of the city.

We dig into:

📉 Inventory trends—what’s actually happening in the Western Suburbs this year

🏡 Where to find the best bang for your buck (Hint: North Downers Grove and Elmhurst are on our radar!)

🚆 Commuting perks, school districts, and lifestyle wins that make suburbs like Hinsdale, Clarendon Hills, and Western Springs so desirable

🧱 Why new construction is almost nonexistent—and how that affects every buyer

💡 The real reason so many buyers are still writing aggressive offers despite higher interest rates

🍷 Plus: our personal picks for local eats, outdoor activities, and why summer in the ‘burbs might just rival Chicago city living.

Whether you're eyeing the suburbs for more space, better schools, or just a change of pace, this episode is full of actionable insight. And if you're trying to choose between the city and the suburbs, we’ve got stories, strategy, and some solid laughs to help guide your decision.

CONNECT WITH CHICAGO HOME PARTNER:

Amanda McMillan,

Chicago Home Partner

[email protected]

☎️ 773.537.1300

🟦 About Are you a first-time Chicago homebuyer, homeowner, or real estate investor? Subscribe to our channel for a front-row seat to current Chicago market trends, local influences on home values, financing tips, and strategies for making SMART real estate moves.

As the #1 producing agent in the @properties Bucktown, Amanda is a true Chicago real estate maestro. A data enthusiast, Amanda dives deep into local, national, and financial markets to serve as both an educator and ally to Chicago's home buyers and sellers.

CHICAGO REAL ESTATE ACCOLADES: -

$50M+ in closed volume annually -

Consistently ranked among the Top 1% of Chicago Realtors for volume & transactions -

200+ 5 star reviews on Zillow, Google, and Yelp

Beyond Chicagoland, Amanda's connection with Christie's International Real Estate enables her to assist clients worldwide. Whether you're seeking luxury services, buying or selling for the first time, or investing, Amanda's expertise and support are unparalleled.

#ChicagoRealEstate #chicagorealestate #SuburbanLiving #HinsdaleRealEstate #HinsdaleHomes #amandamcmillan

Thinking about leaving the city for the Chicago suburbs? Wondering what suburban life really looks like compared to your current neighborhood in Lincoln Park, Lakeview, Bucktown, or Logan Square? In this episode of Chicago Home Partner, I sit down with my longtime friend and North Shore expert Connie Dornan to break it all down in a point/counterpoint conversation between two seasoned real estate advisors—me (city-focused) and Connie (suburbs-focused).

We compare what Chicago residents are experiencing right now with what’s happening in the suburbs—from inventory trends to home prices, buyer behavior, and lifestyle differences. Hear how mortgage rates are impacting buyer psychology, to what types of properties are in highest demand in areas like Wilmette, Winnetka, Glenview, Northbrook, Highland Park, and more. Whether you've made up your mind to move or are just weighing your options - this conversation is packed with insider insight you won't find on Zillow.

As two experienced brokers who started in real estate during times of crisis, Connie and I share the data-driven strategies and real-life stories that are helping our clients succeed in today’s competitive housing market.✨ Whether you're dreaming of a bigger backyard, looking for top-rated schools, or just trying to understand what life in the suburbs is really like, this episode is a must-watch.🔔 Subscribe for more expert real estate advice, neighborhood deep-dives, and honest takes on Chicago’s evolving market.📍 Serving buyers and sellers in Chicago, Wilmette, Glenview, Winnetka, Northbrook, Lake Forest, and beyond.CONNECT WITH CHICAGO HOME PARTNER: Amanda McMillan, Chicago Home Partner [email protected] ☎️ 773.537.1300

Why can’t we just build more homes in Chicago and how has the city made it nearly impossible for developers to build here?In this episode, I sit down with Zev Salomon, one of the city’s top new construction developers, and Kevin Van Eck of @properties to unpack why Chicago’s zoning laws, city ordinances, and political red tape are some of the biggest roadblocks to solving our housing crisis.🏗️ Zev pulls back the curtain on just how difficult it is to get a shovel in the ground in Chicago. From density restrictions and affordable housing mandates to months-long aldermanic approval processes and NIMBY opposition, we break down why building more homes is no simple task—and how these barriers are driving developers away from Chicago altogether.🏡 We also discuss which types of new construction are actually succeeding, why affordability remains out of reach for many, and how the housing shortage is impacting every level of the market—from luxury buyers to first-time home seekers.🚛 In the second half, Kevin shares how @properties’ relocation network and Christie's International affiliation are empowering buyers and sellers to move smarter—whether across town or across the globe.📌 Key Topics Covered:* How Chicago’s zoning and ordinances are stalling new development* The high cost of affordable housing requirements* Why developers are leaving Chicago for less restrictive markets* What relocation services offer buyers and sellers moving to/from Chicago* Real estate predictions for 2025If you’ve ever wondered why inventory is so tight in Chicago—or what it takes to actually build new homes here—this episode is for you.

🟦 About

Are you a first-time Chicago homebuyer, homeowner, or real estate investor? Subscribe to our channel for a front-row seat to current Chicago market trends, local influences on home values, financing tips, and strategies for making SMART real estate moves. As the #1 producing agent in the @properties Bucktown, Amanda is a true Chicago real estate maestro. A data enthusiast, Amanda dives deep into local, national, and financial markets to serve as both an educator and ally to Chicago's home buyers and sellers. CHICAGO REAL ESTATE ACCOLADES: - $50M+ in closed volume annually - Consistently ranked among the Top 1% of Chicago Realtors for volume & transactions - 200+ 5 star reviews on Zillow, Google, and Yelp Beyond Chicagoland, Amanda's connection with Christie's International Real Estate enables her to assist clients worldwide. Whether you're seeking luxury services, buying or selling for the first time, or investing, Amanda's expertise and support are unparalleled.

The landscape of Chicago real estate is shifting fast, and the changes in Chicago commercial real estate are playing a major role. Since COVID, office vacancy rates have soared, small businesses have struggled to survive, and skyrocketing commercial property taxes are putting pressure on both business owners and homeowners. Chicago’s beloved neighborhoods—built around vibrant local shops, restaurants, and walkable amenities—are at risk as we see more empty storefronts and stalled developments. But is there hope for a turnaround?Some vacant office spaces are being repurposed, innovative redevelopment plans are in the works, and forward-thinking retailers are slowly making a comeback—placing bets on Chicago’s resurgence. If you want to understand how these shifts could impact your home value, your buying power, and your future in Chicago’s real estate market, this episode is a must-watch.0:55 - Jump to the Commercial Discussion24:35 - Jump to the Residential / Mortgage DiscussionKey Questions Answered* What is the current state of the Chicago real estate market?* Why should Chicago home buyers and sellers care about commercial real estate?* What plans are being used to repurpose vacant spaces throughout the city?* What strategies should buyers use to stay competitive in a fast-moving Chicago real estate market?Expert Guests & TopicsDeena Zimmerman (Baum Realty): Discusses the state of Chicago commercial real estate and how new restaurants, shops, and other commercial projects are shaping the unique character of Chicago neighborhoods. Learn how these commercial properties influence nearby home values and what they mean for Chicago’s residential real estate scene.Dan Gjeldum (RATE Mortgage): Covers how current economic policies – including insights on Trump’s policies – might impact the Chicago real estate market. Hear about expected interest rate trends and discover new loan products available to Chicago home buyers today. Find out how these tools can help you seize opportunities and stay competitive in your Chicago home buying journey.Tune in to hear in-depth answers to all these questions and more from our expert guests. Our discussion will help you understand what's really happening in Chicago's real estate landscape right now – and why it matters if you're buying or selling a home in Chicago.

What is going to happen to the Chicago housing market over the next 12 months? Tune in to find out from a 20 year top producing agent and find out if 2025 if YOUR year to buy or sell in Chicago.

The 2024 Presidential election is finally behind us, but how will that impact the real estate market going forward? This month we feature two incredible guests and together, we dive deep into our thoughts on real estate under Trump 2.0, Chicago's market outlook for 2025, and the challenges buyers and sellers will face in the coming year.