If you ask people to name a city known for its deep-dish pizza, Bears (and Cubs) and mobster history, nobody would second-guess the great Windy City, Chicago.

Chicago experienced lower home price appreciation than most cities in the U.S. in recent years, and the housing inventory has recovered more quickly than in other regions. Consumers and homebuilders are also less optimistic about the current state of the market, which could be attributed to skyrocketing construction costs and rising mortgage rates. This is also evident in the lower number of construction permits being issued for single-family and multifamily buildings, but they seem to be trending upward so far this year.

Using information from the U.S. News Housing Market Index, we’ve compiled the data you need for a better understanding of the Chicago metro area real estate market in 2023.