Sales of newly-constructed single family homes remain down and the head of the Bloomington-Normal Realtor's Association says regulatory issues are mostly to blame.
Ed Neaves, President of BNAR said, a decade ago, as much as 27 percent of the market was new construction. He says that segment has struggled since the great recession of 2008.
"The regulations, the federal banking issues, financing, cost of construction, new construction sales have (dwindled) down to about eight or nine percent of the market," Neaves said.