Subscribe to our mailing list

* indicates required Email Address * First Name Last Name Opt-In Date Location

St. Louis Real Estate Search

 

St. Louis home prices falling;  St Louis rents on the rise

dennis-norman-st-louis-realtor-A report just released by Trulia today which is based on the for-sale homes and rentals listed on Trulia, shows that asking prices for Saint Louis homes for sale decreased 2.4 percent from a year ago however Saint Louis rental rates increased 3.2 percent during the same period.

Nationally, home prices increased 0.3 percent in June from a year ago and rents were 5.4 percent higher in June than a year ago.

Source: Trulia

 

----------------------------------------------------------------------------
                   June 2012 Trulia Price Monitor Summary                   
----------------------------------------------------------------------------
                                       # of 100 largest   % change in asking
                 % change in asking  metros with asking-  prices, excluding 
                       prices          price increases       foreclosures   
----------------------------------------------------------------------------
Month-over-                                                                 
 month,                                                                     
 seasonally                                                                 
 adjusted               0.3%            (not reported)           0.8%       
----------------------------------------------------------------------------
Quarter-over-                                                               
 quarter,                                                                   
 seasonally                                                                 
 adjusted               0.8%                  84                 2.2%       
----------------------------------------------------------------------------
Year-over-year          0.3%                  44                 1.7%       
----------------------------------------------------------------------------

Despite Big Price Gains, Phoenix, Miami, and Detroit Face New Foreclosure Wave
Asking prices rose by 15 percent or more from last year in Phoenix and Miami. However, seven of the 10 metros with the largest increase in asking prices also have a high share of homes in foreclosure, including Phoenix, the Florida metros, and Detroit and its suburbs. These coming foreclosures threaten to reduce or reverse recent price gains in those markets. In contrast, Denver, San Jose, Pittsburgh, Little Rock, Austin and Colorado Springs all had price gains of more than 4 percent with a moderate or low share of homes in foreclosure.

----------------------------------------------------------------------------
                     Metros with Largest Price Increases                    
----------------------------------------------------------------------------
                         Y-o-Y % Change in Asking  Homes in Foreclosure, per
 #  U.S. Metro              Prices, June 2012         1,000 Housing Units   
----------------------------------------------------------------------------
 1  Phoenix, AZ                   18.9%                       25.5          
----------------------------------------------------------------------------
 2  Miami, FL                     16.1%                       33.7          
----------------------------------------------------------------------------
 3  Cape Coral-Fort                                                         
     Myers, FL                    14.9%                       30.5          
----------------------------------------------------------------------------
 4  West Palm Beach, FL            9.6%                       26.1          
----------------------------------------------------------------------------
 5  Denver, CO                     7.2%                       11.9          
----------------------------------------------------------------------------
 6  Orlando, FL                    6.8%                       29.3          
----------------------------------------------------------------------------
 7  Warren-Troy-                                                            
     Farmington Hills,                                                      
     MI                            6.5%                       17.5          
----------------------------------------------------------------------------
 8  San Jose, CA                   6.2%                       10.0          
----------------------------------------------------------------------------
 9  Detroit, MI                    5.2%                       21.2          
----------------------------------------------------------------------------
 10 Pittsburgh, PA                 5.1%                       4.4           
----------------------------------------------------------------------------

Note: Among 100 largest metros. Foreclosure data provided by RealtyTrac. National average is 10.2 homes in the foreclosure process per 1,000 housing units.

----------------------------------------------------------------------------
                     Metros with Largest Rent Increases                     
----------------------------------------------------------------------------
                         Y-o-Y % Change in Asking   Y-o-Y % Change in Asking
 #  U.S. Metro               Rent, June 2012            Rent, March 2012    
----------------------------------------------------------------------------
 1  San Francisco, CA             14.7%                      10.9%          
----------------------------------------------------------------------------
 2  Oakland, CA                   11.2%                       7.0%          
----------------------------------------------------------------------------
 3  Denver, CO                    10.9%                       9.4%          
----------------------------------------------------------------------------
 4  Miami, FL                     10.5%                      11.2%          
----------------------------------------------------------------------------
 5  Boston, MA                    10.3%                       8.6%          
----------------------------------------------------------------------------

 

Comments are closed.