An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

A NAR board member tells (almost) all

For this week’s Houses in Motion, a miniseries that is part of HousingWire Daily, we spoke with Lisa Dunn about the pressing issues in real estate, including disclosure of agent commission.

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Lincoln slog: Why home prices don’t rise in Springfield

The Illinois capitol is the only market country with a recent home price dip. But agents aren’t alarmed

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“It was here, in Springfield, where North, South, East and West come together, that I was reminded of the essential decency of the American people, where I came to believe that through this decency, we build a more hopeful America.”

Barack Obama uttered those words on the footsteps of the Illinois state capitol in 2007 – a speech where the former Illinois state senator declared his candidacy for president. Back then, if Obama loved Springfield so much, he could have bought a home there for the median price of $108,000, according to National Association of Realtors data, significantly less than the 2007 U.S. median home price of $207,000.

Today, the gulf in home prices between the Springfield metropolitan area and the rest of the country looks as endless as Illinois’ prairie. The median Springfield area home sold for $143,000 in the second quarter of this year, per NAR. The U.S. median existing home price is $359,900.

In that NAR study, the Chicago-headquartered trade group analyzed home sale data in 183 markets. Springfield was the only one of those 183 to see a year-over-year home sale price decline.

In other words, at a moment in real estate history when the phrase “high demand, low inventory” is cliché…have we found the one place in America where there’s not high demand?

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