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Report shows St. Louis home prices fell in September more than U.S. average

Dennis Norman, St Louis REALTOR - U.S. Home Prices - September 2011

St. Louis home prices have declined at a higher rate in September than the U.S. average. A report released this morning by CoreLogic, one of the nations leading providers of property information shows that U.S. home prices in September declined 4.4 percent from the year before and by 1.1 percent from the month before however, St. Louis home prices (the five-county “core” of St Louis City, St Louis County, St. Charles County, Franklin County and Jefferson County) declined 7.3 percent in September from the month before and were down 8.1 percent from the year before.

That means St. Louis home prices in September declined from the month before 66 percent more than the U.S. average and declined a whopping 636 percent more from the year before than the U.S. average. Why we saw such a big decline in St Louis home prices in September I don’t know, but it marked the 2nd consecutive month of declines. The good news; all the data is not yet in for October sales, but so far it looks like October will finish without a decline and either end up right about the same as September or maybe even up ever so slightly……stay tuned…

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