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St. Louis Real Estate Search

 

Are Home Prices Rising Faster Than Income, Again?






RealtyTrac published a report earlier this week that prompted an article on Bloomberg Business with a headline of “U.S. Home Prices Are Surging 13 Times Faster Than Wages”. RealtyTrac’s report included a chart (below) showing several metropolitan areas throughout the U.S. where, over a recent two year period, home prices were outpacing wages and that “either wages are going to need to go up or (home) prices are going to need to at least flatten out and wait for wages to catch up”. […]

In What St Louis Neighborhoods Have Home Prices Increased?

The table below shows the top 25 St Louis neighborhoods where the prices of homes listed for sale have increased in the prior 90 days. This could be an indicator of rising home prices in the area or could be an indicator of a lot of investor or speculator activity resulting in homes being […]

Majority of Sellers Are Lowering Asking Prices On Homes In Many St Louis Neighborhoods

Sellers in most St Louis neighborhoods have had to lower the asking price of their homes in the past 90 days and, in fact, as of today, 11 St Louis neighborhoods have seen more than half the sellers lower their prices, according to MORE, REALTORS.

As the table below shows, almost 75% of sellers […]

Case-Shiller report shows U.S. home prices increased slightly in June

Dennis Norman

This morning, the S&P/Case-Shiller Index report for June was released showing US home prices increased for the third consecutive month however, average home prices in the U.S. are still about the same as they were over 8 years ago in early 2003. The report shows their 20-city composite home price index […]

St Louis ranked 4th best performing real estate market in U.S.

Clear Capital just released their housing market report which, based upon data available through and including July 2011, has ranked the 15 best and worst performing housing markets in the U.S. based upon their quarter-over-quarter change in home prices. St. Louis came in number 4 on the list of best performing metros with a […]

Home prices increased in June; third consecutive month of increases

A report released by CoreLogic shows U.S. home prices increased in June 2011 by 0.7 percent from the month before, marking the third consecutive month-over-month increase. However, U.S. home prices in June 2011 decreased 6.8 percent from the year before. If we take the distressed sales (foreclosures, REO’s and short-sales) then year-over-year home […]

Home Price Index increases for second consecutive month in May

Dennis Norman

This morning, the S&P/Case-Shiller Index report for May was released showing US home prices increased for the second consecutive month with average home prices in the U.S. being about the same as they were in the summer of 2003. The report shows their 20-city composite home price index increased by 1.0 […]

Homeowners that bought since 2006 overpricing the most when they resell

A report just released by Zillow.com shows that current home sellers who purchased their homes “after the bubble” (2007 or after) are overpricing their homes by more than sellers that bought during the bubble (2002-2006) or before the bubble (pre-2002). According to the report, current sellers that bought post-bubble are overpricing their homes by […]

80 Percent of homes bought in last five years are worth less now…

In Britain…

I am not a “misery loves company” guy, nor a “grass on the other side is always greener” guy, but in this case, it’s good to know the grass is greener in the U.S., at least as it relates to the housing market. Granted, I may be getting a little desperate […]

Home price index for April increases for first time in 8 months

Dennis Norman

This morning, the S&P/Case-Shiller Index report for April was released showing US home prices showed a monthly increase for the first time in eight months bringing average home prices in the U.S. back to their summer 2003 levels. The report shows their 20-city composite home price index increased by 0.7 percent […]

Robert Shiller on the Housing Boom and Bust and where home prices are headed

Robert Shiller

I’m doing this article as I attend a presentation by Robert Shiller, Yale Economics Professor and Co-Founder of the S&P/Case Shiller Home Price Indices at the S&P Housing Summit 2011, as he discussed “Unusual Factors Influencing the Outlook for the U.S. Housing Market. So it may be a little choppy, but […]

Report Shows U.S. Home Prices Hit Record Low in First Quarter; “No relief in sight”

Dennis Norman

Today the S&P/Case-Shiller Index report for the first quarter of 2011 was released showing home prices continue to fall and that the national home price index hit a new recession low. Nationally, home prices are back to their mid-2002 levels according to the report.

[…]

Home prices continue to fall and continue to point to double dip in housing market

Dennis Norman

Today the S&P/Case-Shiller Index report for February was released showing home prices continue to fall and that the housing housing market continues to head toward a double dip in home prices. The report shows their 20-city composite home price index declined by 1.1 percent from the month before and declined by […]

St. Louis Home Prices Decreased In February; Non-Distressed Sale Prices Stabilizing

According to a report released this morning by CoreLogic, St. Louis home prices (including distressed sales) declined by 8.29 percent in February 2011 from the year before. The prior month showed home prices had declined 7.24 percent from the year before, so the bad news is this shows home prices are continuing to trend […]

Will that be one scoop or two? Two, answers home prices.

Dennis Norman

When I take my kids out for an ice cream cone it’s pointless to ask if they want one or two dips, they always go for the double dip! What’s good for ice cream sales is not good for home prices though…..and, unfortunately, it appears that home prices are choosing to […]

January home price index reaches new low

RPX Composite Home Price Fell to Lowest Level since April 2003

Radar Logic published it’s Housing Market Report for January showing that it’s “RPX Composite Price” fell 3.8 percent from December and 3.4 percent from the year before.

[…]

Home Price Index Shows Year-Over-Year Decline for Sixth Straight Month

A report released this morning by CoreLogic shows home prices in the U.S. declined in January by 5.7 percent from the year before, marking the sixth-consecutive month year-over-year home prices have dropped, according to their index.

The January data shows home prices continuing to slide. Mark Fleming, chief economist with CoreLogic, said, “A […]

Survey shows Americans gaining confidence in stability of home prices

The Fannie Mae Fourth Quarter National Housing Survey polled homeowners and renters alike to assess their confidence in homeownership as an investment as well as their views on housing finance and the overall economy. The survey revealed that Americans are more confident about the stability of home prices than they were at the beginning […]

Report confirms home prices still falling; headed toward double-dip

Dennis Norman

Today the S&P/Case-Shiller Index report for December was released and supports last months report saying a double-dip in home prices was headed our way. The report shows home prices declined by 3.9 percent during the fourth quarter of 2010.

[…]

Home prices expected to continue to suffer as a result of foreclosures

Much has been written (including by me) about the negative impact foreclosures and other distress sales have on home prices so this is no new issue. In fact, most readers have probably seen (or felt) the impact of this in their own neighborhood.

The charts below which show the percentage of mortgages that were […]

Home prices fall in St. Louis almost 9 percent in December; Missouri ranks 5th in U.S. in home price declines

Today, CoreLogic released its December Home Price Index (HPI) showing that home prices in the U.S. declined for the fifth-straight month. The report shows home prices declined by 5.46 percent in December 2010 compared with December 2009.

St. Louis home prices fell by 8.74 percent in December 2010 compared with December 2009, a decline […]

Home Prices Continue to Weaken Confirming Double Dip Fears

Dennis Norman

Today the S&P/Case-Shiller Index report for November was released and confirms concerns that I have discussed previously that the housing market is headed for a double dip in home prices.

The report revealed that home prices decreased in 19 or the 20 metro areas covered by the report from their […]

Where is the real estate market headed in 2011?

The real estate market has not been very nice to us over the past 3 years or so and we are all anxious to see the light at the end of the tunnel. With that in mind, and 2011 in front of us, where is the real estate market headed in 2011? Before I […]

Home Prices: The Coming ‘Double Dip’

Dennis Norman

Yesterday the S&P/Case-Shiller Index report for October was released and was filled with bad news on the housing market. The report revealed that home prices decreased in all 20 metro areas covered by the report from their September levels and only four of the metro’s showed a year-over-year price gain in […]

Home prices decline in third quarter

Dennis Norman

This morning S&P/Case-Shiller Index report for the third quarter or this year was released showing home prices declined 2.0 percent in the third quarter after having risen 4.7 percent in the second quarter.

Nationally, home prices are 1.5 percent below where they were a year ago. In September, 18 of […]

Sellers reduce home prices as they struggle to compete with distressed home sales

Price Reductions Surpass Highest Historical Levels in 15 U.S. Cities, Remain Flat Nationwide

According to a report released this morning by Trulia.com, 27 percent of the homes for sale in November have experienced at least one price cut. Following four-consecutive months of increases, this rate has now flattened out nationwide. However, locally the […]

Case-Shiller issues disappointing report on home prices

Dennis Norman

This morning S&P/Case-Shiller Index report for August was released showing a deceleration in the annual growth rates of home prices from the month before in 17 of the 20 Metro areas covered by the report. The Case-Shiller Home Prices Indices for the 20 metros showed a decrease of 0.2 percent in […]

Distressed home sales bring down prices in St. Louis

Dennis Norman

According to a report issued yesterday by CoreLogic, home prices in the St. Louis area decreased in August 2010 by 3.53 percent from the year before, over twice the US rate of price decline for the same period of 1.5 percent. However, distressed home sale prices are to blame and appear […]

More Sellers Reduce Home Prices in September

Number of price-reduced homes on Market Rose 24 percent in September from 2009..

According to a report released by ZipRealty, the number of price-reduced homes on the market increased 2.1 percent in September compared to August. ZipRealty’s monthly review of MLS-listed properties in 26 major markets found that 47.8 percent of “for sale” […]

Nearly half of all homes listed for sale in August had price cut

“..if a buyer hasn’t walked through the door in 30 to 45 days, a seller needs to lower their asking price. If a home hasn’t had an offer in six months, it’s time to rethink the sale..”

According to a report released by ZipRealty, the number of price-reduced homes on the market increased […]