Welcome to Capitol & Market, our all-member source for industry and advocacy news, legal updates, housing market insights, education and professional development opportunities for Indiana REALTORS®.
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Reminder: Complete Your IAR All-Member Survey |
We’re waiting for your feedback: Tell us what you think about the member benefits, services and programs we provide as your state REALTOR® association – complete your IAR all-member survey.
Check your e-mail for a message with a unique survey link from info@surveysinsight.com, on behalf of Public Opinion Strategies, our professional polling firm (see our original message last week).
A follow up message with your survey link was sent mid-morning on Friday (3/7) and another will arrive Wednesday (3/12) around 9:00AM (Eastern).
Please check your spam folder if you don’t find the message from info@surveysinsight.com in your inbox. Using individualized survey links allows Public Opinion Strategies to track response rates and ensure we have a representative sample of members; however, all responses are confidential.
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Mortgage rates have fallen seven straight weeks since January 20th (a trend likely to continue with the current stock market sell-off); however, February home sales reflect contracts negotiated in January with rates closer to 7%.
- Last month’s 4,930 statewide closings represented solid 12% growth from January but were still 6% below February 2024.
- New pending sales (6,016) also grew at a seasonal month-over-month pace but dropped 8% year-over-year; pending sales grew each week through February but many buyers (especially those looking at homes below $250,000) seem to be waiting for further improvements in rates.
- Indiana’s statewide median price increased slightly from $250,000 in January to $251,000, up 6% year-over-year.
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New February listings (6,316) also finished 6% lower than last year; overall inventory dropped only 6% from January to 12,856 homes listed for sale on an average day in February, 20% higher than 2024.
- With more homes available, homebuyers also continue to negotiate sales at a lower percent of original listing price, at 94.4% versus 95% last February; homes also sold at a slower pace, 30 days from listing to pending sale versus 18 days in 2024.
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Talking with homebuyers about affordability trends: |
Affordability is a challenge for nearly all homebuyers these days - even though Indiana's $250,000 median sale price is well below the U.S. median (over $400,000), statewide home values have still risen 52% over the past five years while elevated interest rates have added hundreds of dollars to monthly mortgage payments since 2022.
But there are positive affordability trends for homebuyers heading into spring, starting with mortgage rates dropping seven straight weeks since January 20th. Brokers may wish to highlight the following points (backed up by IAR data analysis) with potential buyers:
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Legal Update: 2024 Professional Standards Trends |
Before you take any poetic license with your advertising copy or allow yourself to go on a Facebook rant about a fellow REALTOR® who gets under your skin, please take a moment to check out our latest (two-part) legal video update on 2024 professional standards trends.
IAR General Counsel Richelle Cohen Mossler talks about the most common Code of Ethics complaints, violations, and how to navigate pitfalls in the standards of practice that could land you in hot water.
Part one (below) deals with issues in Articles 1, 2, 3 and 12; the second part puts a singular spotlight on the rise in complaints related to Article 15, especially via social media.
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Don't Miss the Early Bird Rate for the 2025 IAR Summer Summit! |
May 5-6 in Madison, Indiana; Early Bird Rate ends March 15th |
Join Us for Two Days of R&R: Recreation and Relocation Strategies |
The Indiana REALTORS® annual Summer Summit brings the real estate industry together outside Indianapolis to showcase our thriving communities, explore unique market trends and hear from colleagues, partners and experts working across the state.
This summer’s theme is “Recreation and Relocation” – how Indiana cities and towns are leveraging their natural assets and amenities to attract visitors, events and new homeowners. Our 2024 host city is a perfect example of the theme - Madison, Indiana has leveraged riverfront redevelopment, built on the legacy of major events like the Madison Regatta and used historic preservation as a strategy to scale up its scenic downtown appeal. Learn about Madison and other success stories that have paid off in growth and housing demand.
And we've added an optional CE opportunity before the Summit agenda kicks off Monday afternoon: This course on Indiana agency law is a timely refresher for every broker doing business under today's business practices and MLS rules!
Learn more by clicking the image above, or click below to register now to join us on May 5-6.
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Spring Forward on Your Required CE with RECP: |
Indiana’s CE deadline is coming up June 30th – all brokers who have completed their post-licensing coursework are required to take twelve hours of real estate continuing education...and the deadline is sneaking up on us. But IAR members can easily knock out some or all of your hours before hoisting that obligatory green beer next week with online, member benefit courses from RECP.
(IAR members: Please be sure to log in and do not purchase the 12-hour CE package - these courses are included in your membership dues. Email info@recp.org for help logging in.)
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Raise Your IQ on AI and More while Earning Your GRI with RECP: |
RECP also offers in-person opportunities to advance your career while completing your CE (and making progress towards a Graduate REALTOR® Institute designation):
Mastering the Real Estate Brokerage – live in Indianapolis on April 25nd; this course gives you all the tools to build a thriving real estate business – a mandatory part of the Graduate REALTOR® Institute (GRI) program, earn six GRI credits and three Indiana CE credits with instructor Paul Wyman.
Spring ’25 Indiana Commercial Real Estate Symposium – learn more about commercial real estate trends and practice, with a deep dive into AI, cybersecurity and other tech business issues with renowned real estate tech expert Craig Grant – Craig offers cutting-edge insights on leveraging tools like ChatGPT within legal and ethical boundaries for your business. Don’t miss this opportunity! Coming up May 16th, live in Carmel (north of Indianapolis) for six CE and six GRI hours.
Get the scoop from Craig below:
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| KIM WARD
2025 IAR President
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Capitol and Market. It’s not only our address but also what we do. IAR backs you at the state Capitol and works to keep REALTORS® at the center of their local market. This newsletter will report on these efforts, as well as all the other information you’re entitled to as a member.
Add news@indianarealtors.com to your address book and be sure to let your local association know when you change email addresses (that’s where we get your contact). Thank you for reading and thank you for your membership.
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