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St Louis Foreclosures Rise In April However Trend Is Down Almost 40 Percent

St Louis foreclosures increased in April from the month before in the St Louis area counties of St Charles, Jefferson and Franklin, were fairly level in St Louis County and declined almost 12 percent in the city of St Louis.  For the 5 counties that make up the core of the St Louis real estate market, the median increase in foreclosure activity in April 2015 from the month before was, as the table below shows, 10.68%, and, compared with foreclosure activity from April 2014, the median increase in foreclosure activity was almost 30 percent, according to data released this morning by RealtyTrac.

However, it is not uncommon to have monthly spikes or dips, so it is better to look at a 12 month rolling average to see what the overall trend is.  As the table shows, when we look at the 12 month rolling average for St Louis foreclosure activity, we see that there was only a slight increase in April 2015 from the month before and nearly a 40 percent decline from a year ago.  It’s only been recently that RealtyTrac began publishing the rolling 12 month data but I think it has really helped see what the real trends are with regard to foreclosures.

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Continue reading St Louis Foreclosures Rise In April However Trend Is Down Almost 40 Percent

New Home Construction In Midwest Surges in April

New Home Construction in the Midwest really heated up during the month of may with construction beginning during the month on new single-family homes a the annual rate of 126,000 homes, an increase of 43.2% from March and an increase of 15.6% from April 2014, according to newly released date from the U.S. Commerce Department and U.S. Census Bureau.  During the month of April, new homes were completed at the annual rate of 128,000 homes, an increase of 50.6% from March and an increase of 28.0% from a year ago.  Building permits issued for new homes did not keep pace with new construction and were issued at the annual rate of 100,000 homes which is still an increase of 1% from the month before and an increase of 5.3% from April 2014.

National Association of Home Builders Chairman, Tom Woods, a builder from right here in Missouri (Blue Springs) said “Our builders tell us that consumers are slowly returning to the market” and added, “This month’s report shows release of pent-up demand and evidence of a sustainable housing recovery.”

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Mortgage Delinquency Rates Drop To Pre-Bubble Level

The mortgage delinquency rate (home owners that are 60 days or more delinquent on mortgage payment) dropped to 2.95 percent in the first quarter of 2015, marking the first time the mortgage delinquency rate has been below 3 percent since the 3rd quarter of 2007 when the rate was 2.61 percent, according to a report released this morning by TransUnion.  This is also the 13th consecutive quarter the mortgage delinquency rate has declined from the prior quarter.

Subprime delinquency rate is over 9 times higher…

The report also shows that the mortgage delinquency rate for subprime borrowers fell in the first quart of this year as well, down to 27.23 percent from 29.76 percent during the prior quarter.  Even with the improvement, the mortgage delinquency rate for subprime borrowers is still over 9 times greater than for borrowers overall.  This is a great improvement from the peak however, in the first quarter of 2010, when the rate was 40.48 percent for subprime borrowers.


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Continue reading Mortgage Delinquency Rates Drop To Pre-Bubble Level

Home Price Appreciation Expected To Be At Historically Normal Rate Over Next Few Years

Pulsenomics just released the results of it’s most recent Home Price Expectations Survey in which over 100 housing experts were questioned about their expectations for the housing market in the coming years.  The report revealed that, overall, the panel predicts home prices from now through 2019 to increase at an annual rate of 3.6% which just so happens to be consistent with the overall historical performance of the market.

The charts below show more detail as well as historical pricing information and the variances in predictions between the optimistic panelists and the pessimistic panelists.


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St Louis Cash Home Sales Account For Just Under 1 In 4 Sales In April

Cash home sales accounted for just under 1 of every 4 (23%) home sales in St Louis during the month of April 2015, a slight decline from a year ago when cash home sales were responsible for 25% of the total home sales.  As the table below shows, the percentage of cash home sales has been fairly consistent the past 12 months, peaking in January of this year when cash sales made up 30% of the St Louis home sales.  The average sales price for cash transactions has been about two-thirds of the average sales price of non-cash sales.


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Home Mortgages During First Quarter of 2015 Up Seventeen Percent From Year Ago

A definite confirmation of an improving real estate market is the fact that, according to a report just released by RealtyTrac, loan originations, for the purchase of a home, during the first quarter of 2015 increased 17 percent from a year ago.  Additionally, Kansas City, Missouri saw the 4th largest increase from a year ago, of major metro areas, with a 32 percent increase in home loans.  St Louis made the top 20 list for year or year increases with a 13 percent increase.


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Student Loans May Not Be Impacting Home Ownership For Millennials As Much As Some Say

There have been many recent articles and reports about  the millennial generation and why they are not buying homes at the same rate as earlier generations did at their age.  Many point to the burden of student loan debt as a cause of their inability to qualify for a mortgage thereby holding the millennials back from buying a home.  However, a new study by TransUnion  suggests this may not be the case.

The study by TransUnion, which looked at people with student loans and their participation in various types of loans, both at the beginning of their student loan repayment period and two years later as well, for a period beginning in 2005 and then again in 2012 and then compared these rates to a “control group” which consisted of people without student loans.  As the table below shows, participation rates for home mortgages, credit cards and auto loans all dropped significantly between the 2005-2007 and 2012-2014 timeframes for both groups,  the people with, and without student loans.  The report suggests that, for both starting periods (2005 and 2012) the fact that the student loan group had lower participation rates in credit was related to them just completing school and having little or no income. This theory appears to be supported by the fact that when you look at the two year period following, the “student loan borrowers were actually more credit active” in obtaining auto loans than their counterparts and the rate of new home mortgage originations during the next two year period were nearly identical between the student loan and control groups for periods looked at.

 

Student loan borrowers may be better credit risks…

The results from the TransUnion study also showed that consumers in the age group of 18-29 (typical age for consumers with student loans) that have a student loan in repayment “generally had better performance on new accounts than their peers without student loans.”

 

Millennials with student loans should be viewed as an opportunity for lenders…

The report concludes saying their findings are important “because it shows lenders that rather than being concerned about student loan borrowers’ ability to manage new credit, this may actually be an attractive marketable group, both in terms of higher credit demand as well as potentially better repayment performance,”

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St Louis’s Fastest Selling Neighborhoods

There is no doubt the St Louis real estate market has been HOT thus far this spring and homes are selling well.   Personally, four, of the last five listings I’ve taken, sold within the first day of hitting the MLS.   Granted, there is a lot that goes into this in terms of pricing, marketing strategy etc., but even with everything done perfectly we weren’t seeing results like this last year.

As you have heard me say many times though, real estate is very local and not all markets perform the same.  There may be drastically different results between two neighboring areas or even between two price ranges within the same neighborhood, which is why good, accurate local market data with an “apples to apples” comparison is more important than ever today.  With this in mind below is my list of St Louis’s fastest selling neighborhoods based upon the average days on market of the homes for sale in those neighborhoods as of today.

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Baltimore Tops List Of Metros For Highest Returns From Flipping Homes

Flipping homes accounts for a smaller percentage of home sales today at about 4 percent of total home sales in the U.S., then in the recent past when they accounted for 6 percent of more of the homes being sold (6.8% at the recent peak in 1st quarter 2012), according to a report released today by RealtyTrac.

According to RealtyTrac, Baltimore Maryland is the best place to flip homes based upon the gross profit margin calculated as a return on investment (ROI) coming with a 94.1% ROI!  Before you get too excited, don’t think that is what the investor walked away with, the gross margin is just based upon the difference between the purchase price and sale price and does not take into account any expenses for remodeling, resale, etc.  As the table below shows, the next 4 out of 5 cities at the top of the list can all be found in Florida.

Memphis Tennessee is the metro area with the highest percentage of flips with home flipping accounting for over 10 percent (10.6%) of all the home sales. The table at the bottom lists the 20 markets with the highest percentage of flipping.

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Continue reading Baltimore Tops List Of Metros For Highest Returns From Flipping Homes

House Flipping In St Louis During 1st Quarter Drops By Sixty-Nine Percent From Year Ago

House flipping in St Louis accounted for just 2.4 percent of the home sales in the St Louis metro area during the first quarter of this year, according to data just obtained from RealtyTrac.  This is a decline a 69 percent from a year ago when “flips” accounted for 7.7 percent of all St Louis home sales.

Highlights from the 1st Quarter 2015 report:

  • There were 115 house flips during the 1st quarter of 2015
  • This was a 57% decline from the prior quarter and a 69% decline from the 1st quarter of 2014
  • Average days to flip a home during the quarter was 169
  • Average purchase price was $79,398, average sale price $101,495
  • Average gross margin on flips during the quarter was 22%
  • Average gross return on investment during the quarter was 27.8% which is down from 47.9% a year ago

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Landlord Charged With Discrimination Over Cat

Paula Anderson, a landlord who owns a two-bedroom home in Santa Fe, New Mexico, was charged with discrimination by HUD after HUD’s investigation revealed that there was cause to believe Anderson had violated the Federal Fair Housing act as follows:

As described in paragraphs 7 to 25 above, Respondent Anderson violated 42 U.S.C. §§ 3604(f)(1) and (f)(2) as defined by 42 U.S.C. § 3604(f)(3)(B) because she discriminated in the terms, conditions, or privileges of Complainant’s tenancy and made her dwelling unavailable by refusing to allow Complainant to live with her assistance animal and daughter at the subject property when such accommodations were necessary to afford Complainant an equal opportunity to use and enjoy her dwelling. 42 U.S.C. §§ 3604(f)(1), (f)(2), and (f)(3)(B); 24 C.F.R. §§ 100.202(a), 100.202(b), and § 100.204(a). 

The interesting thing about this case is that the “assistance animal” is a cat and while many landlords may be familiar with service dogs, particularly as used by visually impaired people, the claim by a tenant that a cat is a service animal may seem like a stretch and not be taken serious by a landlord but this case proves that it needs to be taken seriously.

Read the entire case here – The Secretary, United States Department of Housing and Urban Development vs Paul Anderson

The Hottest Real Estate Markets In America

Realtor.com just released it’s list of the 20 hottest real estate markets in America and the top two markets are in Texas, with Waco at number one and Dallas-Fort Worth-Arlington at number two.  Realtor.com’s rankings were based upon the number of listing views relative to the number of listings on Realtor.com.

20-hottest-markets

Source: REALTOR.com

Pending Home Sales Up Five Percent From This Time Last Year

Pending home sales, the measure of homes with contracts on them but not yet closed, is up five percent on a year to date basis through April of this year compared with the same time last year, for the five-county St Louis core market (St Louis City and the Counties of St Louis, St Charles, Jefferson and Franklin).  Through the end of April, there have been 7,434 pending home sales, up from 7,080 at the same time last year but still down from 7,984 at this time in 2013. The chart below shows the past five years and, beneath that, are charts for the individual counties comparing YTD activity for this year to the prior year as well.

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Distressed Home Sales In February Fall Back to 2008 Rate

Distressed home sales (foreclosures, REO’s and short sales) made up 13.5 percent of the home sales in the U.S. in February, 2015, a decline of 18% from a year ago when the rate was 16.5 percent and is a decline of 5.6% from January when the rate was 14.3%, according to a report just released by Corelogic.  The rate of distressed home sales in February 2015 marks the lowest rate for the month of February since February 2008, according to the report.

 

REO Sales down almost two-thirds from peak

During the peak, January 2009, distressed home sales accounted for 32.4 percent of al home sales with REO sales making up 27.9% of that share.  In February, 2015, REO sales accounted for 9.7 percent of all home sales, a decline of nearly two-thirds (65.23%).

Short Sales down only slightly

Quite different than the figures for REO sales, short sales accounted for 4.5% of all home sales back in January 2009 and still accounted for 3.8% of them in February 2015, for a decline of just 15.6% percent.

Still far from “normal”

Even with the declines, we are a far way from “normal”….prior to the real estate market crisis, distressed home sales made accounted for just about 2% of home sales so we still have a long way to go.

 

Michigan is the king of distress

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St Louis Home Sales In March Increase Nearly Seventeen Percent From Year Ago

St Louis home sales, in the 5-county “core” St Louis market, increased 16.9 percent in March from the year before, with 2,589 homes sold in March 2015 up from 2,214 sold in March 2014.  As the chart below shows, there was the normal “seasonal” dip during the winter months, but the St Louis real estate market has come out of winter strong!

St Louis home prices on the rise too!

As the chart below also illustrates, the median price of homes sold in St Louis has increased from a year ago as well.  The median price of homes sold in March 2015 was $150,000, an increase of 12.3% from March 2014 when the median price was $133,551.

Charts and data are below for the individual counties as well.

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FHFA Says No To HOA Liens or Super-Priorty Liens Wiping Out Fannie Mae or Freddie Mac Home Loans

The Federal Housing Finance Agency (FHFA) issued a release yesterday stating that while that agency acts as conservator for Fannie Mae and Freddie Mac, no “property of the Agency shall be subject to levy, attachment, garnishment, foreclosure, or sale without the consent of the Agency.”  The release went on to say that ​Title 12 United States Code Section 4617(j)(3)  “precludes involuntary extinguishment of Fannie Mae or Freddie Mac liens while they are operating in conservatorships and preempts any state law that purports to allow holders of homeownership association (HOA) liens to extinguish a Fannie Mae or Freddie Mac lien, security interest, or other property interest.”

Just in case a homeowners association or others are still considering giving it a try to have their lien take priority over a Fannie Mae or Freddie Mac lien, not that back in December 2014 the FHFA said they have an obligation to protect Fannie Mae and Freddie Mac’s rights and “will aggressively do so by bringing or supporting actions to contest HOA foreclosures that purport to extinguish Enterprise property interests in a manner that contravenes federal law.”

Twenty Percent Of Homeowners That Did Distressed Sales Expected To Return As Buyer in Coming Decade

Between 2006 and 2014 nearly 9.3 million homeowners in the U.S. were either foreclosed on, did a deed of lieu of foreclosures, or did a short sale of their home, according to a recent report by the National Association of REALTORS (NAR).  Here in Missouri, there were 158,000 foreclosures or distressed sales during that same period.

According to the NAR report titled “Return Buyers” Many Already Here, Many More to Come”, almost one million (950,000) of the 9.3 million people that lost their home, or did a distressed sale, have already likely purchased a home again, however an additional 1.5 million return-buyers will likely purchase a home in the next five years.    In Missouri, NAR estimates that 21,000 of the 158,000 homeowners that lost their homes in foreclosure, did a deed in lieu or short-sold their home have already purchased another home, however predicts that there are 30,000 more in Missouri that will be a return buyer from now until 2023.

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New Home Construction In Midwest Shows Mixed Results in March

New Home Construction in the Midwest showed mixed results in March with a small increase from a year ago in the number of building permits issued but a decline in the number of new homes construction began on or was completed on, according to data released this week by the U.S. Commerce Department and U.S. Census Bureau.

New home construction activity in the midwest region of the U.S. in March (all figures shown are seasonally adjusted, annual rates)

St Louis Foreclosures Rise In March

Foreclosure activity in St Louis was on the rise in March with the foreclosure rate for the St Louis metro area increasing 14 percent from a year ago and over 64 percent from February, according to the latest data from RealtyTrac.  As the chart below shows, foreclosure activity for the larger Missouri counties that are included in the St Louis MSA saw foreclosure actions decline from a year ago with the exception of Franklin County which saw a big increase.

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Former Sara Lee Bakery Group CEO Barry Beracha Lists Ladue Manse For Sale

This week, the 10,000 square foot Ladue Manse that is the home of Barry H. Beracha and his wife Barbara, came on the market with a price tag of $3,75 million.  “Casual elegance” is how the listing describes this 16 room home, with 5 bedrooms, 7 bath rooms and a 1.5 acre lot located at 5 Warson Hills Lane in Ladue.

Mr. Beracha currently serves as a Director for Hertz Global Holdings, Inc. and, prior to retirement, served as Chief Executive Officer of the Sara Lee Bakery Group.

5 Warson Hills, Ladue, MO  63124 - For Sale -

5 Warson Hills, Ladue, Misouri 63124

To view all photos as well as complete description, click here.

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Disclaimer: The information herein is believed to be accurate and timely, but no warranty whatsoever, whether expressed or implied, is given. Information from third parties is deemed reliable but not verified and should be independently verified. MORE, REALTORS does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this website.

Where Are Homes Selling The Quickest In St Louis?

The St Louis real estate market has definitely heated up and we are seeing as many as 10 or 20 showings on new listings within the first day or two of hitting the market with many of the homes also selling during the first couple of days.  Naturally, this is not happening for all homes in all price ranges in all areas, but is certainly happening in some.  So where are homes selling the quickest in St Louis?  To answer this question, I pulled market data for homes that are currently under contract but have not closed, then looked at how much time they were on the market before selling and have the results below.

Clayton and Maplewood-Richmond Heights School Are Fastest Selling School Districts-

As far as School Districts go, of the districts I pulled data for which were the largest and most popular, the Clayton School District was at the top of the list with homes that are under contract in that district having an average time on the market of just 9 days.  Next is the Maplewood-Richmond Heights school district at 20 days.  The table below shows the information for all of the districts I checked:

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Property Tax Rates In St Louis County Highest In Area – Over Fifty Percent Higher Than Some Neighboring Counties

Real property tax rates in St Louis County effectively cost homeowners in that county about 1.43 percent of the value of the home which is 57 percent higher than Jefferson and Franklin counties were property taxes cost homeowners about .91 percent of their homes value.  In St Charles County, property taxes are about 1.34 percent of the homes value.

Effective Real Property Tax Rates In St Louis*

St Louis Property Taxes vs St Louis Home Prices*Median real estate taxes paid and median home price based upon U.S. Census Data from the 2013 ACS Estimates
 

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The Rights Of Missouri Landlords Are About To Be Trampled On Again

Section 347.057  of the Missouri Limited Liability Company Act states “A person who is a member, manager, or both, of a limited liability company is not liable, solely by reason of being a member or manager, or both, under a judgment, decree or order of a court, or in any other manner, for a debt, obligation or liability of the limited liability company, whether arising in contract, tort or otherwise or for the acts or omissions of any other member, manager, agent or employee of the limited liability company.”  So, like a corporation, LLC’s provide protection to the individuals, (or other LLC’s, or corporations) that own the LLC from personal liability for business conducted by the LLC.  Without the ability to protect one’s personal assets from liability from business operations, many businesses wouldn’t exist nor would the products and services they provide.  For example, would you be willing to buy stock in a company such as Ford, or Johnson and Johnson if you were going to be personally named in all the lawsuits brought against those companies?  I doubt it.

Landlords, rehabbers, developers and speculators often own and operate their real estate inside of LLC’s for many reasons including for liability reasons, tax benefits as well as to sometimes conceal or protect the identity of the individuals or companies involved.  All of these things (including concealing the identity of the members of the LLC) are lawful purposes of the LLC and have legitimate purposes.

Proposed legislation could strip protection away from property owners in Missouri:

House Bill 864 (bill contents below), introduced by Representative Sheila Solon from District 031 Continue reading The Rights Of Missouri Landlords Are About To Be Trampled On Again

Percentage of Underwater Homeowners Increases For First Time In Nearly Three Years

Seriously underwater homeowners, those people whose mortgage debt is 125 percent or more of their current home’s value, increased to 13.2% of all home loans during the 1st quarter of 2015, marking the first increase in rate from the prior quarter since February 2012, according to a report released this morning from RealtyTrac.  As the chart below shows, the percentage of homeowners that are seriously underwater, peaked during the 2nd quarter of 2012 at 28.6% and has decreased every quarter until reaching the most recent low of 12.7% during the 4th quarter of last year.

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St Louis Pending Home Sales Rise In February

Pending home sales in St Louis rose in February with 1,710 sales pending in the St Louis 5-county core market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin), an increase of 17 percent from 1,460 pending home sales the month before, however was a decrease of 11% from February 2014 when there were 1,917 pending home sales in the St Louis 5-county core market.

On a year to data basis pending home sales in 2015 (through the end of February) have increased from the same time last year, with 4,873 pending sales for 2015, an increase of 4% from the same time in 2014 when there had been 4,690 pending home sales.

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Are Home Prices Rising Faster Than Income, Again?

RealtyTrac published a report earlier this week revealing median home prices in the U.S. increased over the past two years at a rate 13 times greater than what wages increased during the same period. RealtyTrac’s report included a chart (below) showing several metropolitan areas throughout the U.S. where, over a recent two year period, home prices were outpacing wages and that “either wages are going to need to go up or (home) prices are going to need to at least flatten out and wait for wages to catch up.”

St Louis Home Price Appreciation Versus St Louis Wage Growth:

As I often remind everyone, all real estate is local, so I wanted to look at local data to see how St Louis shaped up in an analysis similar to the one done by RealtyTrac.  I was particularly interested in the outcome of my analysis since it wasn’t that long ago I wrote an article questioning whether home prices in St Louis were too low and now, on a national level, the discussion seems to be perhaps they are too high.

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St Louis Home Sales Jump Almost 15 Percent From Year Ago

St Louis home sales jumped in February to 1,633 homes sold in the St Louis 5-County Core market (the city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin), an increase of almost 15 percent (14.8%) from February 2014 when there were 1,423 homes sold, and an increase of over 22 percent (22.3%) from the month before, according to the latest data available from MORE, REALTORS.  As the chart below shows, the median price of homes sold in St Louis in February was $150,000, an increase of over 11 percent (11.11%) from a year ago when the median price was $135,000 and an increase of over 3 percent (3.4%) from the month before when the median price of homes sold was $144,950.

St Charles County Has Largest Increase In Home Sales-

Below the 5 county chart is a chart for St Charles county showing there were 377 homes sold in February, an increase of almost 31 percent (30.9%) from February 2014 when there were 288 homes sold and an increase of 33.7 percent from the month before.  St Charles County home prices, on the other hand, slipped in February to a median price of $171.950, down 3.3% from the month before and down 1.9% from February 2014 when the median price of homes sold in St Charles county was $175,250.

St Louis County Sees Gain in Home Prices and Sales-

The chart for St Louis county can be found below the St Charles county one and reveals there were 813 homes sold in February, an increase of 18 percent from February 2014 when there were 689 homes sold and an increase of 19.4 percent from the month before.  St Louis County home prices inreased as well in February to a median price of $149,450, an increase of 4.9% from the month before and an increase of 10.7% from February 2014 when the median price of homes sold in St Louis county was $135,000.

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Nearly 1 Out 10 People Said They Wanted to Move But Most Stayed Put

The U.S. Census Bureau this week released a report titled “Desire to Move and Residential Mobility: 2010-2011” in which some interesting facts were revealed about what makes people want to move, who actually acts upon that desire and how this varies between homeowners and renters.  The first thing that pops out of this report is the fact that nearly 10 percent of the people in the U.S. are not happy with the current place they live and want to move.  Reasons given for this unhappiness include the housing itself, the neighborhood, safety or the lack of, or quality of, public services.

Highlights from the report:

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St Louis Foreclosures Decline In February

St Louis foreclosures declined in February for the St Louis MSA with a total of 843 foreclosure actions occurring during the month, a decline of over 22 percent from the month before and a decline of over 10 percent from a year ago, according to data just released this morning by RealtyTrac.

As the table below shows, foreclosure activity decreased in all of the counties in the core St Louis market during February from the month before and all, except Franklin County, saw a decrease from a year ago.

On a national level, RealtyTrac reported 101,938 foreclosure actions occurred during the month of February in the U.S., a decline of 4% from January, a decline of 9% from February 2014, and the lowest level since July 2006.

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St Louis Home Prices Declined In January…or did they?

This week FNC, Inc., a large company that provides real estate market information to mortgage lenders across the country, published their FNC Residential Price Index™ report which, as the table below shows, reported that St Louis home prices declined slightly in January from the month before (0.4%) and were also down slightly (0.7%) from a year ago.  However, all is not as it may appear as this data, like most data you see reported nationally, and even often-times locally, it is based upon the St Louis Metropolitan Statistical Area (MSA), which consists of a total of 17 counties, 9 of which are in Missouri and the other 8 in Illinois.  So, while the data for the St Louis MSA is an accurate reflection of what is going on in our region as a whole, you must remember, real estate is very local, so the more targeted the data, the better and that’s where we come in.

Our 5-county core market, which consists of the city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin, contains about 72% of the overall population of the St Louis MSA and makes up the bulk of the St Louis real estate market, hence our focus on the 5-county core.  As the chart below illustrates, the median home prices for homes sold in the St Louis 5-county core market, did decline 6% from $179,900 in December to $169,000 in January, however, home prices increased from $167,500 in January 2014, to $169,000 in January 2015 so, not a large increase (0.8%) but an increase.  Below that chart is a chart for just St Louis county showing that St Louis county home prices slipped slightly in January (0.9%) to a median price of $183,300 from $185,000 the month before, however, increased 6%, from January 2014, when the median home price was $173,000.  Finally, the bottom chart shows St Charles County home prices fell 8.8% in January to a median price of $191,500 from $210,000 the month before, but were up slightly from January 2014 when the median home price in St Charles county was $190,900.

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Continue reading St Louis Home Prices Declined In January…or did they?