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St. Louis Real Estate Search

 

St Louis Housing Market Bubble to Burst

St Louis Distressed Home Sales - St Louis Realtor

The St Louis housing market bubble of 2006 was followed by the bursting of the bubble shortly thereafter and, even though many of us tried to convince ourselves it would not happen, reality set back in.  The reality was, when it came to home prices, the “greater fool theory” would only work so long until the reality of the underlying fundamentals of what makes up the value of a home would rear it’s ugly head and bring everyone down from their real estate high.

So, now that several years have passed, and many market prognosticators (including yours truly) say the St Louis housing market is in a recovery, I thought I would take a look at which St Louis area county (of the 5 county core market I frequently talk about) is recovering the best from the housing market bubble burst.  As the table below shows, St Louis County has recovered the best, with a median home sales price of $156,000 during the bubble year of 2006 and a median home price of $151,500 in 2013 for a decline of only 2.88%.

 

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St Louis Area Home Prices Bubble to BurstDate source: MARIS – Copyright 2014 St Louis Real Estate News

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