Dennis Norman
By: Dennis Norman
A report published by Local Market Monitor, Inc. predicts the St. Louis metro area will see real estate values decline 2% in the coming 12 months. This projection does not sound bad and would support the possibility that the market is leveling off and perhaps we have seen the bottom.
Local Market Monitor Graph - St. Louis Metro Area, Home Values Forecast vs. Actual
The report also states that in the St. Louis metro market jobs have fallen by 2.5% in the past year, compared with a drop of 4% nationwide. According to Local Market Monitors “Equilibrium” report, home prices in this area are “balanced”, meaning not over priced, nor under priced. They also note that home prices in our market are 27% lower than the national average.
Related posts:
- Report shows home prices up modestly over last year
- St Louis housing prices projected to drop 1 percent in next 12 months
- St Louis Real Estate – Report Shows Market Stalled out In December
- St. Louis Real Estate News; St Louis home prices fall in September but projected to increase 2.4 percent in next twelve months
- First Quarter Home Sales Up From a Year Ago in many Metro Areas Including St. Louis
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