A Brief History of Real Estate

When it’s time to sell or buy a home, most of us call a realtor. But when did the real estate industry take root and how did it grow throughout the years? Turns out, the process of exchanging land and property for goods or currency goes back to our earliest days, as humans evolved from hunting and gathering to more agrarian lifestyles. Throughout human history, conquerors such as Alexander the Great, William the Conqueror, and Napoleon acquired land by force. During the Middle Ages, Europeans began developing land and buildings for personal investment and income. As Europeans migrated to America, the promise of a real estate landfall in the New World created an entirely new industry. Of course, the United States was acquiring its own land, as well, including the Louisiana Purchase in 1803 and the Alaska Purchase in 1867.

It wasn’t until 1855, however, that the first real estate brokerage, Baird and Warner Real Estate in Chicago, was founded. Agents at this point sold properties relatively independently, until 1908 when the group now known as the National Association of Realtors was founded and the term “Realtor” was coined, denoting membership. During the roaring 1920s, the real estate market thrived, only to fall during the Great Depression. After World War II, federal legislation helped establish mortgage stability and development of affordable homes in the suburbs. Familiar government entities such as the Federal Housing Association (FHA); the mortgage association Fannie Mae; and the second loan market Freddie Mac, were all created from the 1930s to the 1970s.

Components of today’s real estate market haven’t changed much since early in the 20th century. The first open house took place in 1910 and became an increasingly popular way to showcase new home advancements, such as electricity and heating. The first staged home appeared in the National Real Estate Journal in 1925, allowing prospective homeowners to imagine how the space could be used. In the 1950s, the model home became a feature of real estate, the first one appearing in Dallas, Texas. Tools of the trade also didn’t change much until the advent of the internet, when the first online property listing appeared around 1994. This challenged the highly coveted Multiple Listing Services, or MLS, which only licensed realtors were able to access. Real estate leaders took action and created their own online listings portal, Realtor.com, in 1995. And lucky for us, searching for a new home has never been easier.

Coconut Ice Pops

Ingredients

2 cups (10 ounces) fresh blueberries

1 cup coconut-flavored Greek yogurt

3 tbsp Coffee mate® natural bliss® Sweet Crème All-Natural Coconut Milk Coffee Creamer

1 tbsp fresh lemon juice

Directions