Newsviews: Chicago's Real Estate Market

CHICAGO (WLS) -- Many people are wondering if Chicago's real estate market is heading toward a slump.

WATCH: Newsviews Part 1

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Some reports about a possible slump are troubling, but that perspective may depend on what neighborhood you reside in, and whether you are buying or selling a home.

WATCH: Newsviews Part 2

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Tommy Choi, the president of the Chicago Association of Realtors, Orphe Divounguy, chief economist with the Illinois Policy Institute and Paul Wells with Re/Max of Barringto stopped by ABC7 with their predictions for where the market is heading. They also explained the factors that may affect the future of the city's housing market.