Economist shares factors that will help housing and where the supply of future buyers will come from

Higher rental rates, low mortgage interest rates and fewer new homes in the pipeline should work in favor for the Illinois housing market in the months ahead, says University of Illinois economist Dr. Geoffrey Hewings, director of the Regional Economics Applications Laboratory (REAL) headquartered in Urbana.

In this video recorded mid-August, he points to pent-up demand from retirees who’ve so far stayed put and people relocating for jobs—especially as the job market picks up—as key sources for the next stage of homebuying and selling.