How does the Real Estate Market Differ Today from 2008

naedrie.bonucchi • January 3, 2023

How does the Real Estate Market today differ from 2008?

The real estate market in Springfield, MO has changed significantly since 2008. One of the biggest differences is the overall health of the market. In 2008, the market was in the midst of the housing crisis, which was caused by the subprime mortgage crisis and resulted in a sharp decline in home values across the country.


In contrast, the current market in Springfield is much stronger. Home values have rebounded since the crisis and are now back to pre-crisis levels. This is due in part to the strong local economy and low unemployment rate, which have helped to support the housing market.


Another difference between the market in 2008 and today is the availability of credit. In 2008, lending standards were much more relaxed it was easy for many buyers to qualify for a mortgage. Today, lending standards are much more stringent, ensuring that buyers are well-qualified for their mortgages.


Overall, the current real estate market in Springfield is much healthier and more stable than it was in 2008, thanks to a strong local economy, higher home values, and enhanced lending regulations."

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