Springfield, Missouri - has a diverse and rich economy that has been surprisingly resilient when you view it against the backdrop of the national market. Several contributing factors make Springfield Missouri somewhat insulated to the wild swings we have seen happening on the East and West coast. Our central location gives us access to 3/4 of the population of the US in under 4 hours time. We have seen our appreciation on our property climb at a slow and steady pace not the rabbits pace that has been typical in the markets that are now going through some corrections. While we do have our fair share of foreclosures on the market I am witnessing a resurgence in buyer activity that is making the market very competitive for those listings and that will contribute to keeping the price of the home closer to the value.
We are still impacted by the changes in the lending rules that have had an impact on everyone but I think in the long run we will see more investment into the home which will strengthen the homeowners equity position in their house and will help everyone when it comes time to sell the property.
Darren Stewart
OakStar Bank
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