Why have home values in Northwest Indiana gone up so much—and why is it becoming harder to find an affordable starter home?

In this episode of Key to the Region, Jim Dedelow sits down with Monica Decker, MLS Director for the Northwest Indiana Realtors Association, and Clarence Webb, real estate broker, owner, and current NIRA MLS Board President, to take a closer look at the data behind the Region's housing market.

The conversation breaks down how the Multiple Listing Service (MLS) works, why NIRA considers it a source of truth for real estate data, and how listing information gets distributed to real estate agents and websites.

The guests also explain how real estate professionals determine a home's value, including the importance of location, updates, condition, inventory, and demand. They discuss comparable sales, local market knowledge, and why two similar homes on the same block can have very different values.

The episode also explores some of the biggest challenges facing today's market:

🏠 Northwest Indiana's residential inventory has fallen dramatically—from roughly 6,000–8,000 active listings eight to ten years ago to about 2,400 today.

📈 Rising home prices are making the market more difficult for first-time buyers.

🔎 NIRA's local MLS gives buyers access to listings directly from local real estate professionals.

🌎 Continued movement from Illinois into Northwest Indiana is affecting both residential and commercial real estate.

🏡 New construction and educating buyers and sellers could play an important role in increasing housing inventory.

For first-time homebuyers, the message is encouraging: homeownership is still possible, but finding the right real estate professional, understanding the market, and being patient can make a major difference.

Whether you're thinking about buying, selling, or simply wondering why your home is worth so much more than it was a decade ago, this episode provides a behind-the-scenes look at the numbers and people shaping Northwest Indiana's real estate market.

Key to the Region is presented by the Northwest Indiana Realtors Association.

Listen on Apple Podcasts, Spotify, and wherever you get your podcasts, or watch the episode on WJOB 1230's YouTube channel.