By Dennis Norman, on June 13th, 2025 
While brokers across the country argue over Clear Cooperation and buyer compensation, one group isn’t making noise — but they are taking notes. State real estate commissions, including Missouri’s, are quietly preparing for enforcement… and private listings are on their radar.
In a recent blog post titled “Private listings just got real: State regulators have entered the chat“, real estate compliance consultant Summer Goralik, a former DRE investigator, warned that off-MLS listings marketed without clear seller-driven intent could expose brokers to serious regulatory trouble. And in Missouri, that trouble comes with a very specific rulebook.
Continue Reading →
By Dennis Norman, on June 12th, 2025 
Rob Hahn recently ignited an important conversation about the National Association of REALTORS® (NAR) decision to significantly modify Standard of Practice 10-5, a rule initially established to prevent harassment based on protected characteristics. While NAR’s move to restrict 10-5’s scope solely to REALTORS’ professional activities has been welcomed as a step toward safeguarding free speech, Hahn highlights another critical dimension needing attention: restitution for those previously penalized under its broader interpretation.
According to Hahn, now that NAR acknowledges the overreach of the initial rule, it owes apologies and possibly reparations to REALTORS previously sanctioned under it. As Continue Reading →
By Dennis Norman, on June 12th, 2025 
In a modest respite for potential homebuyers, St. Louis mortgage rates have shown a fractional decrease as of June 2025, with the 30-Year Fixed Rate now sitting at 6.89%, a slight decline of 0.04%. The 15-Year Fixed Rate has also seen a minimal drop, now at 6.20%, down by 0.01%. While these changes may seem minimal, in the context of rates consistently above 6.5%, any reduction can be significant for those financing a home purchase.
For buyers and sellers in the St. Louis area, these changes signal a potentially cooling market, where slightly lower rates could enhance buying power, albeit Continue Reading →
By Dennis Norman, on June 11th, 2025 
MARIS Outperforms Its Associations in Stability, Solidifying Its Role in the St. Louis Real Estate Market
In a shifting real estate landscape marked by declining membership in many markets, MARIS (Mid-America Regional Information Systems) stands out as a model of stability and strength. Headquartered in St. Louis, MARIS is the MLS for the St. Louis metro area, and surrounding counties, serving 10 local associations across Missouri and Illinois. As of year-end 2024, MARIS recorded 15,014 subscribers—a decline of just 2.1% from the previous year. Compared to the drops seen in many of the associations it serves, this is a noteworthy Continue Reading →
By Dennis Norman, on June 10th, 2025 
A new federal lawsuit filed in California is challenging a long-standing National Association of REALTORS® (NAR) policy that many small and independent brokers argue has quietly stifled competition in the real estate industry for years. The suit, brought by broker John Diaz, centers on the “Variable Dues Formula” — a policy that requires designated REALTOR® brokers to pay NAR dues not just for themselves, but also for any agents in their firm who are not NAR members, even if those agents opt out of the services.
While this may sound like an administrative issue, it has real consequences, particularly for Continue Reading →
By Dennis Norman, on June 10th, 2025 
Last year saw a record-setting shift in the housing market as real estate investors unloaded homes at a pace we haven’t seen in over two decades. According to the 2025 Investor Report released by Realtor.com, nearly 11% of all U.S. home sales in 2024 came from investors—the highest level since this data began in 2001. Unlike during the pandemic boom, this uptick wasn’t about cashing in on appreciation. It was about cutting losses in a softer market with declining rents.
Missouri was at the epicenter of this trend, tying with Oklahoma for the highest percentage of investor sales at 16.7%. Continue Reading →
By Dennis Norman, on June 5th, 2025 
The National Association of REALTORS® Board of Directors today approved updates to Standard of Practice 10-5 and Professional Standards Policy Statement 29 — both key components of Article 10 of the Code of Ethics. These long-anticipated changes, debated since 2023, aim to bring more clarity and consistency to how REALTORS® are held accountable when it comes to discrimination and harassment.
As I reported in my May 26th article, concerns had been growing over whether SOP 10-5 infringed on members’ personal free speech — especially in cases where comments or beliefs expressed outside the workplace led to disciplinary action. The revised Continue Reading →
By Dennis Norman, on June 5th, 2025
In a welcome shift for potential homeowners, mortgage rates in St. Louis have experienced a slight decrease as of June 2025. The 30-Year Fixed mortgage rate has dipped to 6.87%, a reduction of 0.09%, maintaining a level above the 6.5% threshold but showing signs of easing. Similarly, the 15-Year Fixed rate has also decreased by 0.09%, now at 6.12%. This downward trend offers a slight reprieve for buyers in the St. Louis real estate market who have been facing high rates in recent times.
The impact of these changes on the St. Louis housing market is significant, especially for first-time Continue Reading →
By Dennis Norman, on June 5th, 2025 
The recent discussion stirred up by Rob Hahn’s piece, “A Modest Proposal: Bring Back Subagency,” hit a nerve,not because I necessarily agree with everything he said, but because it made me think. As someone who’s long been a supporter of buyer agency,especially the idea that buyers deserve representation,I have to admit, Rob raises some points that are hard to ignore. Especially when it comes to the reality that many agents, despite their good intentions, don’t fully grasp what fiduciary duty really means.
Let’s be honest: fiduciary responsibility is a big deal. It’s not just a label,it’s a legal and ethical Continue Reading →
By Dennis Norman, on June 4th, 2025 
Lawrence Yun, Chief Economist, NAR
Yesterday, I attended the Economic Forecast session during the NAR Mid-Year Meetings in Washington D.C., where National Association of REALTORS® Chief Economist Lawrence Yun gave a sobering yet hopeful outlook for the housing market — and homeowners, sellers, and agents in the St. Louis area should take note.
Yun, recently ranked one of the nation’s top economic forecasters by The Wall Street Journal, admitted the recovery he had predicted hasn’t yet materialized. “I thought at this conference I would share some good news with you. Home sales are rising. Momentum Continue Reading →
By Dennis Norman, on May 31st, 2025 
Just outside of St. Louis, tucked alongside the Meramec River, lies the forgotten town of Times Beach, Missouri. Or at least, what’s left of it. Today, it’s known as Route 66 State Park. But if you’ve ever walked the trails there and felt something unusual about the place, there’s a reason. Beneath the soil and forest sits the remains of an entire community that was evacuated and erased in the early 1980s due to dioxin contamination.
Recently, I came across a fascinating documentary about Times Beach created by a young filmmaker named Drew Walters. I’ve known Drew for a long Continue Reading →
By Dennis Norman, on May 30th, 2025 
Quick Summary: A new legal challenge could undo the $1.8 billion+ Sitzer/Burnett vs NAR real estate commission settlement. If successful, it could reverse everything the industry has done to comply, and throw home sellers, agents, and brokerages in St. Louis and across the U.S. into another round of litigation and uncertainty.
A key settlement in the Sitzer/Burnett commission lawsuit, the one that was supposed to change how agents get paid, may be on the brink of collapse. Law professor and former home seller Tanya Monestier has filed a formal appeal in the U.S. Court of Appeals for the Eighth Circuit. Continue Reading →
By Dennis Norman, on May 29th, 2025
In the ever-dynamic St. Louis real estate market, mortgage rates have shown a slight decrease as of May 2025, providing a small but notable relief for prospective homebuyers. The 30-Year Fixed Rate mortgage, a popular choice among residents, has edged down by 0.01% to 6.97%. Similarly, the 15-Year Fixed Rate has decreased by 0.02%, settling at 6.23%. This trend of falling rates, although modest, points towards a potentially more accessible market for buyers.
For sellers in the St. Louis area, the current rate adjustments mean maintaining a competitive edge in pricing their homes to attract buyers who are keen to Continue Reading →
By Dennis Norman, on May 27th, 2025 
When you think of booming home prices, places like Ladue (63124) or Clayton (63105) probably come to mind. But looking at home price appreciation in the St. Louis area from 2000 to 2024 tells a different story… and it might surprise you. At the top of the list? Benton Park and St. Louis Hills. Yes, you read that right, 63118 and 63109 outpaced every other zip code on the list, including the ones most associated with wealth.
Homes in 63118 jumped a staggering 554% since 2000, while 63109 rose 184%. Meanwhile, Ladue came in at just 109% growth and Clayton Continue Reading →
By Dennis Norman, on May 26th, 2025 
Today, as we observe Memorial Day, we pause to honor the men and women who gave their lives in service to our country. This solemn day of remembrance has deep roots in American history, dating back to the years following the Civil War, and was officially recognized as a federal holiday in 1971. Here in St. Louis, a city rich in military tradition and home to Jefferson Barracks National Cemetery—one of the oldest military cemeteries in the nation—Memorial Day carries an especially strong connection to our community and its history.
For many, homeownership represents more than just a financial investment—it Continue Reading →
By Dennis Norman, on May 23rd, 2025 
In today’s real estate market, buyers face more complexity than ever, especially when it comes to representation and how buyer agent commissions are handled. While some buyers still consider working directly with the listing agent or using a neutral transaction agent, the reality is that only a dedicated buyer’s agent offers true advocacy for the buyer’s interests throughout the process. This includes identifying properties, evaluating pricing, negotiating inspections and repairs, and advising all the way through closing. Since the Sitzer-Burnett lawsuit settlement—which fundamentally changed how commissions are disclosed and negotiated—MLS listings no longer include advertised offers of compensation to buyer’s Continue Reading →
By Dennis Norman, on May 23rd, 2025
As of May 2025, the St. Louis real estate market is experiencing subtle shifts in mortgage rates, which are crucial for both potential home buyers and current homeowners considering refinancing. The 30-Year Fixed Rate has seen a slight increase to 7.08%, up by 0.09% from the previous period. This uptick suggests a tightening in lending conditions, potentially influencing buyer affordability in the St. Louis area. Similarly, the 15-Year Fixed Rate has risen to 6.39%, marking a change of 0.04%.
For those looking at more substantial home purchases, the 30-Year Jumbo Rate currently stands at 7.13%, closely aligning with the standard Continue Reading →
By Dennis Norman, on May 19th, 2025 
The St. Louis County real estate market displayed mixed signals in April 2025, with home prices continuing to climb even as sales volumes decreased. According to the latest data, the median sold price for homes in St. Louis County reached $285,000, marking a 7.55% increase from April 2024’s median of $265,000. This price also shows a growth of 3.64% compared to March 2025, where the median was $275,000. Meanwhile, the median list price saw a rise to $275,000, up by 7.86% from the previous year.
However, the number of home sales tells a different story. April 2025 saw 811 homes Continue Reading →
By Dennis Norman, on May 17th, 2025 
The St. Louis metropolitan area, encompassing counties in both Missouri and Illinois, has experienced a shift in its real estate market dynamics as of April 2025. This year, the region recorded a total of 7,926 homes sold, marking an 8.59% decrease compared to the 8,671 homes sold during the same period in the previous year. This change reflects various factors influencing the local market, providing potential home buyers and sellers with critical insights into current trends.
Despite the year-over-year dip, the St. Louis real estate market continues to offer diverse opportunities for both buyers and sellers. For those interested in Continue Reading →
By Dennis Norman, on May 16th, 2025 
The Federal Reserve’s latest note on real estate commissions adds some national context to trends we’ve seen unfold in St. Louis for decades. While their report shows a national decline in buyer agent commissions from 3% in the late 1990s to around 2.7% in 2022, our local data shows this shift started much earlier and ran a bit deeper here.
In the St. Louis metro area, the median commission paid to buyer’s agents has been on a steady decline since peaking near 3% back in the early 2000s. By 2023, it had dropped to about 2.59%, just before MLS rules Continue Reading →
By Dennis Norman, on May 15th, 2025 
The Jefferson County real estate market witnessed a notable increase in home prices during April 2025. Homes sold for a median price of $285,000, marking a 7.26% rise from April 2024 when the median sold price was $265,700. This price also represents a significant 11.76% increase compared to March 2025, where the median sold price stood at $255,000. The median list price followed suit, reaching $279,900, which is a 6.62% increase from the previous year’s $262,527.
However, despite the rising prices, the number of home sales experienced a downturn. There were 187 home sales in April 2025, showing a decrease Continue Reading →
By Dennis Norman, on May 15th, 2025
As of May 2025, the St. Louis real estate market is experiencing shifts in mortgage rates that are essential for both potential home buyers and current homeowners considering selling. The 30-Year Fixed Rate has seen a slight increase to 6.99%, a change of +0.07% from previous figures. Similarly, the 15-Year Fixed Rate has risen to 6.34%, marking an increase of +0.08%. These adjustments might influence buyer affordability and seller market timing in the region.
For those looking into larger, more expensive properties, the 30-Year Jumbo Rate stands at 7.10%, while the more accessible FHA loans are available at a rate Continue Reading →
By Dennis Norman, on May 15th, 2025 
According to ATTOM’s just-released April 2025 U.S. Foreclosure Market Report, foreclosure activity across the U.S. continues to rise gradually. A total of 36,033 properties had a foreclosure filing last month, which includes default notices, scheduled auctions, or bank repossessions. This marks a 0.4% increase from March and a 13.9% jump from April 2024. Rob Barber, CEO of ATTOM, commented that while foreclosure volume is still below historical norms, “the year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures.”
In the Midwest, Illinois stood out with one of the highest foreclosure rates in Continue Reading →
By Dennis Norman, on May 14th, 2025 
If you’re buying or selling a home in 2025, there’s a hidden threat you need to be aware of: wire fraud. According to the newly released State of Wire Fraud 2025 report by CertifID, 1 in 4 consumers reported receiving suspicious or fraudulent communication during their real estate transaction—and nearly 1 in 20 fell victim.
In 2024 alone, these scams resulted in nearly $500 million in losses. The method? Criminals impersonate trusted figures in the transaction—with real estate agents being the top target, mentioned by 58% of victims. Title agents were Continue Reading →
By Dennis Norman, on May 12th, 2025 
In the 12-month period ending March 31, 2025, there were 3,492 permits issued for new single-family homes in the St. Louis area, a 16.55% decrease from the 4,070 permits issued during the prior year, according to the Home Builders Association of St. Louis & Eastern Missouri. Five of the seven counties in the report showed double-digit drops in new home permit activity. However, Franklin County and Warren County saw double-digit increases, indicating continued strong interest in those markets.
This data is one of the many reasons buyers and investors rely on the expertise and insights from MORE, REALTORS®
See Continue Reading →
By Dennis Norman, on May 9th, 2025 
The Metro East real estate market has shown notable growth in April 2025, with the median home selling price reaching $193,000, a 5.46% increase from April 2024. This upward trend is also evident from the month-to-month comparison, where there was a 4.64% rise from March 2025’s median sold price of $184,450. While sales prices are climbing, the number of homes sold in April 2025 experienced a slight decrease, with 595 homes sold compared to 635 in the same month last year, reflecting a 6.30% drop.
The median list price for homes also saw an increase, reaching $192,500 in April 2025, Continue Reading →
By Dennis Norman, on May 8th, 2025
As we navigate the complexities of the St. Louis real estate market in May 2025, understanding the current mortgage rates is crucial for both potential home buyers and sellers. The latest data provided by MORE, REALTORS® indicates a slight decrease in interest rates, which could influence decision-making processes in the housing market. The 30-Year Fixed Rate now stands at 6.86%, showing a minor reduction of 0.02%. Similarly, the 15-Year Fixed Rate has also decreased by 0.02%, currently at 6.19%. These small changes suggest a relatively stable interest rate environment.
For those considering more substantial home purchases, the 30-Year Jumbo Rate Continue Reading →
By Dennis Norman, on May 8th, 2025 
The real estate market in St. Charles County has demonstrated robust growth as of May 2025, with significant increases in both median sold and list prices compared to the previous year. In April 2025, homes in St. Charles County sold for a median price of $375,000, marking a 4.17% increase from April 2024, when the median sold price was $360,000. This figure also represents a 1.35% rise from March 2025, where the median sold price was $370,000.
The median list price in April 2025 reached $374,400, up by 6.97% from $350,000 in April 2024. Additionally, the number of home sales Continue Reading →
By Dennis Norman, on May 7th, 2025 
According to a recent report by Realtor.com, Missouri and Illinois rank in the middle of the pack when it comes to home affordability, with Missouri landing at #22 and Illinois at #30 among all 50 states and the District of Columbia. While neither state earned a top grade, both remain relatively affordable compared to coastal and western markets. Missouri received a “C” grade with a REALTORS® Affordability Score of 0.82 and a median listing price of $298,696. Illinois, also graded “C”, had a slightly higher affordability score of 0.86, a median home price of $316,613, and a notably higher median Continue Reading →
By Dennis Norman, on May 6th, 2025 
The Franklin County real estate market experienced a notable increase in home prices in April 2025, with the median sold price reaching $267,500. This reflects an 8.98% rise from April 2024, where the median price was $245,450, and a slight increase of 0.13% from March 2025. Meanwhile, the median list price also saw a growth, setting at $270,950 in April 2025, up by 9.03% from the previous year.
Despite the rise in prices, the number of homes sold in Franklin County decreased by 16.36% year-over-year, with 92 homes sold in April 2025 compared to 110 in the same month last Continue Reading →
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