Springfield, IL
Cycle Phase
Springfield experienced a market correction from late 2024 through early 2025. The market is currently recovering.
Market conditions are rebuilding after a correction period
Springfield's housing market shows average risk, ranking 194th of 287 metros. The market recently entered Recovery. Inventory is growing moderately (-11% YoY) with stable liquidity.
Executive Summary
Risk is Neutral, driven primarily by price momentum and employment. The market is in Recovery phase. Liquidity is stable and valuation is balanced.
Top Risk Drivers (This Month)
Market Signals
Inventory is declining (-11% YoY), indicating a tight market with limited supply.
Liquidity
Valuation
Factor Details
Factor Breakdown
12-month HPI change — higher = overheating
YoY permit change — higher = supply pressure
Permits per 1,000 residents — higher = overbuilding risk
Mortgage payment / income — higher = more burdened
12-month employment change (risk inverted)
Net AGI migration (risk inverted)
Underlying Values
| Metric | Value | Pctile |
|---|---|---|
| Price Momentum | +6.0% | p94 |
| Permit Growth | -28.0% | p9 |
| Permits/1K Pop | 0.93 | p3 |
| Affordability | 0.17 | p0 |
| Employment | -1.0% | p91 |
| Net AGI Migration | -$30K | p75 |
National ContextDoes not affect score
Credit Conditions
Credit Regime
Healthy recovery. Credit is flowing normally and transactions are steady — conditions favor continued rebuilding.
Supply Pipeline
Supply Regime
Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.
Local SignalsDoes not affect score
Metro Permit Activity
Permit Activity
CoolingRaw signal — not the composite percentile
Relative to 2016–2019 norms for this metro
Based on limited permit volume
Builders are pulling back but demand remains healthy. A supply constraint could form — fewer new units entering a market that is still absorbing well.
Liquidity
Liquidity
Internal Structure
County-level structural analysis.
County-level structural analysis is not available for this metro due to fewer than 3 qualifying counties.
Score History
| Month | Score |
|---|---|
| 2025-11 | 44 |
| 2025-09 | 32 |
| 2025-07 | 35 |
| 2025-05 | 38 |
| 2025-03 | 38 |
| 2025-02 | 38 |
| 2024-12 | 34 |
| 2024-11 | 35 |
| 2024-09 | 30 |
| 2024-08 | 30 |
| 2024-07 | 30 |
| 2024-06 | 28 |
| 2024-04 | 37 |
| 2024-03 | 36 |
| 2024-02 | 36 |
| 2024-01 | 37 |
| 2023-11 | 41 |
| 2023-10 | 43 |
| 2023-08 | 44 |
| 2023-07 | 44 |
| 2023-05 | 39 |
| 2023-03 | 24 |
| 2023-01 | 26 |
| 2022-11 | 30 |
| 2022-09 | 28 |
| 2022-08 | 26 |
| 2022-06 | 21 |
| 2022-03 | 28 |
| 2022-01 | 25 |
| 2021-11 | 20 |
| 2021-10 | 20 |
| 2021-08 | 22 |
| 2021-05 | 22 |
| 2021-04 | 26 |
| 2021-02 | 26 |
| 2021-01 | 28 |
| 2020-11 | 26 |
| 2020-10 | 26 |
| 2020-08 | 26 |
| 2020-06 | 28 |
| 2020-04 | 25 |
| 2020-03 | 30 |
| 2020-01 | 27 |
| 2019-12 | 30 |
| 2019-10 | 31 |
| 2019-07 | 32 |
| 2019-06 | 31 |
| 2019-04 | 31 |
| 2019-03 | 31 |
| 2019-01 | 31 |