>

St Louis Real Estate Search

St Louis Real Estate Market Update VIDEO – December 2018 – Months Supply On the Rise

The St Louis real estate market is lagging a little behind last year in terms of home sales and the inventory of homes for sale is on the rise.  While some of this is, of course, seasonal, perhaps some of it could be related to home prices increasing over the past year or so […]

Nearly 1 In 5 St Louis Home Sales In Past 12-Months Were Cash Deals

There were 37,721 homes sold in the St Louis metropolitan area during the past 12 months as reported by MORE, REALTORS.  Of those, as the chart below illustrates, conventional financing made up the lion’s share of the sales.  Conventional mortgages accounted for 18,967 home sales (50.3%), followed by cash transactions with no financing that accounted for 7,109 sales (18.9%), then […]

The Number of Flipped Houses In St Louis Drops, As Do Profits On Them

There were 752 home “flips” in the St Louis metro area during the third quarter of this year, representing 6.5% of the homes sold during the period, according to data just released by ATTOM Data Research. This is a decline of 7.4% from the prior quarter and a decline of 2.0% from the same quarter […]

Fastest Selling Cities in St Louis

It’s no secret that home sales slow down this time of year in St Louis however, there are still plenty of cities in St Louis where homes are selling quickly! As the table below shows, Rock Hill is at the top of our Fastest Selling Cities list with the current supply of homes for sale […]

Strong Economy’s Impact On Housing Market Shows In REALTOR Survey

The impact of the strong economy the U.S. is currently experiencing can be seen in the National Association of REALTORS (NAR) 2018 Member Profile. In the NAR report when agents were asked about the most important factor limiting potential home-buyer clients from completing a transaction, the answers given in the most recent survey show a […]

Median Price of Homes Sold in St Louis City/County In Past 12 Months Hits $185,000 – Sales Flat

The median price of homes sold in St Louis City and County combined during the 12 month period ended October 31, 2018 was $185,000 according to the STL Market Report™ from MORE™, REALTORS®. As the STL Market Report™ below shows, this is an increase in the median price of condos sold of 5.11% from the […]

Number of Equity-Rich St Louis Homeowners Increases In 3rd Quarter

According to a report just released by ATTOM Data Solutions, 16.9% of the homeowners in St Louis with a mortgage are “equity-rich”, meaning their loan balance is 50% or less of their home’s estimated value. As the table below illustrates, this is an increase from 15.8% during the 2nd quarter as well as the 1st […]

Number of Underwater St Louis Homeowners Falls To Lowest Level Since Last Year

During the 3rd quarter of this year, 14.4% of the homeowners in St Louis with a mortgage were “seriously underwater”, meaning they owe at least 25 percent more than the estimated value of their home, according to a report just released by ATTOM Data Solutions. This is the lowest rate this year, down from 15.6% […]

St. Louis’ 10 Fastest Selling Cities In October 2018

Not only did the beautiful fall weather of October draw St Louis area families to the popular apple and pumpkin picking festivities at Eckert’s Millstadt Farm, it also brought out home buyers putting Millstadt, IL at the top of our fastest SOLD cities in the St Louis metro area for October. As our table below […]

New Home Prices Have Increased At Higher Rate Than Overall Housing Market Over Past 15 Years

I had lunch yesterday with a long-time friend who is a St Louis home-builder who shared with me the continually rising costs of construction he faces. Our conversation was consistent with conversations I’ve had with other builders as well, who cite a variety of things responsible for the ever-increasing costs of new home construction. The […]

Will Zillow Put Real Estate Agents Out of Business?

It would be an understatement to say that Zillow® has many real estate agents nervous about their future. It’s not just Zillow® though, it’s Amazon, big banks, and dozens and dozens of new real estate start-ups and changing business models.

A true dysfunctional family…

The most common name that comes up in real estate agent […]

Homeownership Rate In U.S. Hits Highest Rate Since 2014

The homeownership rate in the U.S. hit 64.4 percent during the third quarter of this year, according to data just released from the Census Bureau. This is the highest rate of homeownership in the U.S. since the third quarter of 2014 when the rate was also 64.4%.

As the chart below shows, homeownership rates increased […]

Real Estate Agents Are In The Goldilocks Zone – What Does This Mean For Their Future?

Will technology send real estate agents into near extinction like it did with travel agents and may be doing with taxi-cab drivers today? This is a topic of frequent conversation in our industry, especially with dozens of new, well-funded startups, many with new and different business models, all gunning for a piece of the residential […]

St Louis Real Estate Market Holding Steady

In contrast to reports from around the country of a cooling housing market and even a possible bubble in some markets, the St Louis real estate market continues to hold steady. As our exclusive, STL Market Report for the St Louis 5-County core market below shows, during the past 12-months homes have sold at about […]

Mortgage Bankers Forecast Five-Percent Mortgage Rates Next Year

The Mortgage Bankers Association (MBA), in their Mortgage Finance Forecast released this week predicted that interest rates on home mortgages will continue to rise this year and will hit 5% early next year. According to the report, the interest rate on a 30-year fixed rate mortgage is expected to come in at an average of […]

Are Homes Going To Become ATM’s Again?

During the housing bubble that peaked around 2006 and then burst in 2008 one of the things that got many homeowners in trouble was using their home’s as ATM’s. They did this by using, in most cases, home-equity loans to take advantage of the equity they had in their homes to give them access to […]

Homeowner’s Equity Hits Record High

Homeowner’s equity (the difference between current home value and the total amount of debt against the home) has risen to a record level in the U.S. at $15.189 Trillion as of the 2nd quarter of this year, according to reports from the St Louis Fed Reserve. As the chart below illustrates, this level is even […]

St Louis Real Estate Market Update VIDEO – October 2018 – Home sales down but higher than 10 years prior to 2017

St Louis home sales continue to lag a little behind last year, however, through the end of September, year-to-date St Louis home sales are higher than they were for the ten years prior to last year! In fact, the YTD total home sales of 21,043 for the St Louis 5-County core market, falls just 130 […]

Home Affordability In St Louis Drops For All Counties In Third Quarter

One of the nice things about St Louis has always been that it’s an affordable place to live and an affordable place to own a home. However, as St Louis home prices, and mortgage interest rates, continue to increase, home affordability in St Louis has declined.

As the table below, which is based on data […]

Sellers Have Reduced Prices on Nearly Half The Homes Currently For Sale

It may still be a seller’s market in many areas of St Louis, but, as our table below shows, nearly half (48%) of the active listings in the St Louis market have had at least one price reduction since coming on the market.

St Louis 5-County Core Market – Active Listing Data

[…]

The Most Expensive Homes For Sale In St Louis

One of the great things about living in St Louis is it is a very affordable place to live, including when it comes to home ownership. Home affordability in St Louis is certainly much better than the coasts but also beats many, if not most, metro areas. Having said that, we do have our share […]

Are Homes Prices In St Louis Cooling?

Yesterday, the latest S&P Corelogic Case-Shiller (the biggest name in national home price data) home price indices were released for July 2018 (their reports lag behind somewhat). Even though in their press release, S&P stated “Data released today for July 2018 shows that home prices continued their rise across the country over the last 12 […]

St Louis Home Sales Trend Remains Flat While Prices Rise

St Louis home sales remain consistent but fairly flat with 27,636 homes sold during the past 12 months, just slightly more than the 27,525 homes sold in the prior 12 month period, for the 5-County core St Louis market. As the table below shows, while home sales only increased by 0.40% during the period for […]

St Charles Makes Money Magazine’s 50 Best Places To Live In America List

Money Magazine just released its “The Best Places To Live In America” list and St Charles came in at number 32 on the list and was one of only two cities in Missouri to make the list. The other was Lee’s Summit, in the Kansas City area, which came in at number 41 on the […]

Today’s Headlines Say St. Louis Is “Among worst cities for buying a house” – True or not?

Not that anyone that reads my articles on a regular basis needs any more proof of this, but there was yet another example today of just how “local” real estate is, and why it is so important to make sure you have good, accurate, up to date information before making real estate decisions. Today, the […]

Who Wins When Buyer Buys From Listing Agent?

One question that causes much debate among the real estate community and confusion among home buyers is “should you buy a home directly from the listing agent?”. Many home buyers feel like they will get a better deal buying directly from the listing agent, thinking that it will save the seller some money in the […]

House Flipping In St Louis Drops Twenty-Three Percent In 2nd Quarter

House flipping, something that has become quite popular among investors over the past few years and has even spawned several reality TV shows, continues to decline in terms of the number of flips. This is certainly not due to a lack of interest but instead a lack of opportunities. Many flipping opportunities are the result […]

Report Today Says St Louis Housing Inventory Fell 26 Percent In Past Year…Maybe not though…

This morning I noticed the St Louis Business Journal was reporting “In July, the local housing inventory fell to 2.6 months…That marked a 26 percent decrease since the same month last year“. This report immediately caused me some concern as I didn’t think the inventory was down nearly that much. Given that I personally spend […]

New Home Sales In Midwest Up This Year Over 14 Percent From Same Time Last Year

The sale of new homes in the Midwest region of the U.S. is on the rise according to a report just released by the Census Bureau. In July, new homes in the Midwest sold at a seasonally adjusted annual rate of 78,000 homes, an increase of 9.9% from June and an 18.2% increase from July […]

HUD Files Housing Discrimination Complaint Against Facebook

The U.S. Department of Housing and Urban Development (HUD) just announced that they have filed a formal complaint against Facebook for violating the Federal Fair Housing Act by “allowing landlords and home sellers to use its advertising platform to engage in housing discrimination“.

Some of the ways HUD alleges that Facebook platform violates the Federal […]