There were 9,983 home purchase mortgage loans originated in the St Louis metro area during the 3rd quarter of this year, a decline of 5% from the prior quarter and a decline of 3% from a year ago, according to a report just released by ATTOM Data Services. This is the lowest number of home […]
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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 […] 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 […] 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 […] 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 […] 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 […] The median price of homes sold in Franklin County during the 12 month period ended October 31, 2018, was $150,000 according to the STL Market Report™ from MORE™, REALTORS®. As the STL Market Report™ below shows, this is exactly the same as during the prior 12-month period. During the most recent 12-month period, there were […] Median Price of Homes Sold in Jefferson County In Past 12 Months Hits $169,000 – Sales Down SlightlyThe median price of homes sold in Jefferson County during the 12 month period ended October 31, 2018, was $169,000 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 homes sold of 2.42% from the prior 12-month period. During […] The median price of homes sold in St Charles County during the 12 month period ended October 31, 2018, was $230,000 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 homes sold of 4.55% from the prior 12-month period. […] Thanksgiving began in the U.S. in 1789 after the issuance of the proclamation below made by President George Washington and was initially a harvest festival. Thanksgiving did not actually become a federal holiday in the U.S. until 1864 when President Abraham Lincoln proclaimed it “as a day of thanksgiving and praise to Almighty God, […] 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 […] The overall mortgage delinquency rate in the U.S. fell in August to the lowest level in over 12 years, according to a report just released by CoreLogic. According to the report, 4.2% of all St Louis home mortgages were 30+ days delinquent in August 2018, a decline of over 14% from a year ago when […] 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 […] 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% […] 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 […] 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 […] 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 […] 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 […] 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 […] 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 […] 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 […] 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 (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 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 […] 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 […] 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 […] 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 […] 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 […] There were 4,642 new home building permits issued for the 7 counties in the St Louis area covered by the St Louis HBA during the 12-month period ended August 31, 2018, just 2 more (0.04%) than the 4,640 that were issued during the prior 12-month period, according to data from the St Louis HBA. This […] 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 […] |
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