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Experts predict a positive outlook for the Chicago real estate market in 2024. Sales of existing homes are expected to improve after a recent decline. The average long-term mortgage rate has dropped, which may encourage more people to buy new homes. Home sales in the Chicagoland area have declined due to increased interest rates, but the Federal Reserve is anticipating interest rate cuts in the coming year. This could make owning a home more affordable and ease supply concerns. Overall, there is hope for a more favorable market for both buyers and sellers.

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