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St. Louis Real Estate Search

 

St. Louis Home Prices Decreased In February; Non-Distressed Sale Prices Stabilizing

According to a report released this morning by CoreLogic, St. Louis home prices (including distressed sales) declined by 8.29 percent in February 2011 from the year before.  The prior month showed home prices had declined 7.24 percent from the year before, so the bad news is this shows home prices are continuing to trend downward.  The good news is, if you remove the distressed sales from the mix then St. Louis home prices in February only declined by 1.07 percent from the year before and in the month before declined by 2.38 percent from the year before showing that home price decline for home prices on “normal” St Louis home sales is slowing and prices are moving toward stabilization.

Unfortunately distressed sales are not going away any time soon so they will continue to put downward pressure on St Louis home prices however we are beginning to see the light at the end of the tunnel.

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