Illinois Housing Market: Trends and Forecast 2026

Illinois' housing market shows a 5.6% year-over-year rise in single-family median prices to about $347,500, with inventory near historic lows. Chicago metro prices increased 7% to around $450,000, and city prices rose 12% to about $392,000. Listings are down 6%, with homes selling faster than the national average despite higher mortgage rates. The state has not rebuilt housing supply, remaining among the weakest recoveries nationally.