Illinois REALTORS® President Tommy Choi, in a recent WGN interview, states that with interest rates recently dropping to their lowest point in 2025, now is an ideal time for buyers to act — and for recent homeowners to consider refinancing. Lower rates could spark more buyer demand, leading to increased competition and rising prices.

For both buyers and sellers, understanding these hyper-local trends can make all the difference in navigating today’s market.

Check out his discussion about the Chicago area housing market.