Today the National Association of REALTORS released it’s February Pending Home Sales Index showing a increase of 8.2 percent (seasonally adjusted) in the index for the U.S. from January and a 17.3 percent increase from last year. The Midwsest region had the best results with February home sales increasing 21.8 percent from January.
Here in St. Louis, home sales in February increased at an even greater rate. The City of St. Louis had the largest 1-month increase at 62.6 percent, followed by Jefferson County with an increase in pending sales of 34.1 percent, St. Charles County with a 26.9 percent increase and St. Louis County with a 23.8 percent increase. February’s pending sales were significantly better than a year ago for all four areas as well.
As the charts below reflect, not only has the rate of pending home sales increased in the metro area, but closed sales have increased as well and the inventory of homes for sale has declined; all positive signs!
St. Louis City:
St. Louis County: