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St Louis Distressed Home Sales Decline Dramatically In Past Year

St Louis Distressed Home Sales - St Louis Realtor

St Louis distressed home sales have fallen substantially in the past year with distressed home sales in June making up less than 1 in 5 home sales (18.3 percent) for the 5 county core area of the St Louis MO market (St Louis City and County, St Charles, Jefferson and Franklin Counties), according to the latest data from MORE, REALTORS.  REO sales (bank and government-owned properties) accounted for just 15.8 percent of St Louis home sales in June (5 county core), down from 22.6 percent in June 2012.  Short sales (where sellers sell for less than they owe) accounted for just 2.5 percent of home sales in June 2013, down from 3 percent in June 2012.

Cash home buyers (both investors and owner occupants) remain a strong force in the market with almost 1 in 4 (24.7 percent) home purchases in June 2013 being a cash purchase, down just slightly from 25.7 percent a year ago.

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