Skip Black Friday Crowds for Real Estate Deals!

By , on November 29th, 2024

While many rush to snag the best deals on TVs and appliances this Black Friday, savvy homebuyers know the real bargains might be waiting in the St. Louis real estate market. Homes with price reductions or fresh opportunities after a contract falls through can offer a golden chance to snag a deal on your dream home. Instead of battling holiday shoppers, consider browsing the incredible opportunities on WillingToNegotiate.com.

This website features homes in the St. Louis metro area where sellers are showing flexibility. Whether you’re eyeing a property with a recent price cut or one that’s back on the market, Continue Reading →

Happy Thanksgiving from St. Louis Real Estate News and MORE, REALTORS®

By , on November 28th, 2024
Happy Thanksgiving

As we gather this Thanksgiving, St. Louis Real Estate News and MORE, REALTORS, the company behind the news, want to extend our heartfelt gratitude to our readers, clients, and the St. Louis community. Whether you’re celebrating in a cozy brick bungalow, a historic Victorian, or a newly built home, the warmth of family and friends reminds us why real estate isn’t just about properties—it’s about the lives we build within them.

Thanksgiving is a time to reflect on blessings, and as a local real estate leader, we’re thankful for the opportunity to help families achieve their dreams of homeownership. Just Continue Reading →

Settlement in REALTOR Commission Case Gains Final Approval

By , on November 27th, 2024
Legal Counsel Behind Billion-Dollar Verdict Vows to Enforce NAR Settlement Strictly

The landmark settlement in the Burnett (Sitzer) v. National Association of Realtors (NAR) class action lawsuit has officially received final approval from U.S. District Judge Stephen R. Bough on November 27, 2024. This settlement is set to impact millions of homeowners across the U.S., offering substantial financial restitution and mandating significant changes in real estate practices. The full details of the court’s order and settlement terms are provided in the document below.

Judge Bough emphasized the fairness of the settlement, noting that it provides “substantial benefits to the class” while ensuring equitable treatment of all members. Over 491,000 claims have Continue Reading →

NAR’s Speech Code Sparks Controversy: What It Means for Real Estate Agents

By , on November 26th, 2024
NAR Standard of Practice 10-5 Inhibits Freedom of Speech

A recent Notorious P.O.D. interview with Wilson Fauber, a Virginia real estate broker and ordained minister, has brought renewed attention to the National Association of Realtors’ (NAR) controversial Standard of Practice 10-5. The rule prohibits hate speech, epithets, and harassing language by Realtors® at all times, including outside their professional lives.

Fauber faces an ethics hearing over social media posts he made years before the rule’s enactment, including one quoting scripture. Supporters argue the rule ensures a welcoming environment for all, while critics believe it infringes on personal freedoms and is being selectively enforced.

Why This Matters to Agents

The Continue Reading →

Fair Competition in Real Estate? DOJ Takes Aim at Industry Practices

By , on November 25th, 2024
Department of Justice (DOJ)

The Department of Justice (DOJ) is turning up the heat on the National Association of Realtors (NAR) and the real estate industry at large. In a Statement of Interest filed in the class-action lawsuit Burnett v. NAR, the DOJ highlighted ongoing concerns about antitrust practices that could harm buyers, sellers, and competition within the real estate market.

The DOJ took particular aim at the current practice of unilateral offers of compensation to buyer brokers. These practices, the filing explains, pressure sellers to offer high commissions—often 2.5-3%—to buyer brokers to avoid “steering,” ultimately driving up home prices. This arrangement benefits neither Continue Reading →

St Louis City Update: October 2024 Real Estate Market Report

By , on November 21st, 2024
City of St Louis Real Estate

As of October 2024, the St Louis City real estate market is showing signs of stability, with a slight decrease in median sold price compared to the same time last year. According to data exclusively available from MORE, REALTORS®, homes in the St Louis City area sold for a median price of $215,500, a decrease of 0.05% from October 2023. This also represents a 2.82% decrease from September 2024, when the median sold price was $221,750.

However, it’s not all bad news for homeowners in the St Louis City update. The median list price for homes in the area increased Continue Reading →

Inside the National Association of REALTORS®: A Closer Look at Lavish Spending and Controversy

By , on November 19th, 2024
National Association of REALTORS - (NAR) - Logo

The New York Times published a detailed investigation yesterday into the spending practices of the National Association of REALTORS® (NAR), raising significant questions about the organization’s leadership and its stewardship of member dues. The report, titled “Chauffeured Cars and Broadway Tickets: Inside the National Realtors Group,” written by Debra Kamin, explores what some describe as a culture of excess and self-interest within one of the largest trade associations in the United States.

The investigation reveals that NAR’s top executives and elected leaders have enjoyed a range of extravagant perks, from luxury hotel suites and first-class travel to private club memberships Continue Reading →

St Louis County Real Estate Market Update: October 2024

By , on November 19th, 2024
St Louis County Real Estate

The latest data from the St Louis County update shows a strong real estate market, with a significant increase in median sold prices compared to last year. According to the chart below, exclusively available from MORE, REALTORS®, homes in the St Louis County sold for a median price of $298,000 in October 2024, a 26.81% increase from October 2023. This also represents a 4.56% increase from September 2024, when the median sold price was $285000.

The median list price in October 2024 was $295,000, a 31.11% increase from October 2023’s median list price of $225,000. Despite this increase, there were Continue Reading →

Discover the Hottest Zip Codes in St. Louis for Home Buyers and Sellers

By , on November 16th, 2024

Are you looking to buy or sell a home in the St. Louis metropolitan area? If so, you’ll want to pay attention to the fastest selling zip codes in the region. According to recent data, the top three fastest selling zip codes in St. Louis are 63043, 63128, and 63040.

In the top spot is 63043, located in St. Louis, MO, where homes are selling at lightning speed with an average of only 21 days on the market. With an average list price of $274,338, this zip code offers affordable options for families looking to settle down in a bustling Continue Reading →

Court Denies eXp Realty’s Request to Pause Litigation: Key Takeaways

By , on November 15th, 2024
Legal Counsel Behind Billion-Dollar Verdict Vows to Enforce NAR Settlement Strictly

A federal court recently denied a request from eXp Realty to pause ongoing litigation while a settlement in a related case was being finalized. This ruling highlights growing concerns over settlement practices in the real estate industry, particularly in cases involving alleged anti-competitive behaviors. Plaintiffs in the case argued that the proposed settlement in the related Hooper lawsuit failed to adequately address claims or consider eXp’s financial resources, potentially leaving affected homebuyers and sellers shortchanged.

For consumers, this decision underscores the importance of accountability and fairness in real estate dealings. As cases like this challenge longstanding industry norms, buyers and Continue Reading →

Jefferson County Real Estate Market Update: October 2024

By , on November 15th, 2024
jefferson County Real Estate

The real estate market in Jefferson County, as of October 2024, continues to show strong growth and demand. According to data from MORE, REALTORS®, the median sold price for homes in the county was $276,000, representing a 4.47% increase from October 2023. This also marks a 2.22% increase from September 2024, when the median sold price was $270,000.

The median list price for homes in Jefferson County also saw a significant increase, reaching $278,000 in October 2024. This is a 5.92% increase from October 2023, when the median list price was $262,450.

In terms of sales volume, there were 223 Continue Reading →

St. Louis Real Estate Double Bubble: A 25-Year Retrospective on Home Sales Peaks

By , on November 14th, 2024
St Louis Housing Double Bubble - Home Sales Trends from 1999 to Present

The St. Louis real estate market has experienced significant fluctuations over the past 25 years, highlighted by two notable peaks that suggest a “double bubble” phenomenon. The trend chart, based on a rolling 12-month sales data, captures these market dynamics clearly. The first peak in 2005 saw home sales reach approximately 38,039 units, coinciding with the national housing bubble. This peak was followed by a substantial decline, with sales dropping by about 25.5% by 2008. The second peak occurred in 2021, with home sales climbing to around 43,058 units, driven by low interest rates and shifts in housing demand due Continue Reading →

St. Louis Building Permits Rise in 4 of 7 Counties, with Lincoln County Seeing Over 100% Growth Again This Month!

By , on November 13th, 2024

During the 12-month period ending September 30, 2024, a total of 3,855 building permits were issued for new single-family homes in the St. Louis area. This marks a 1.28% decrease from the previous 12 months, which recorded 3,905 permits. According to the latest data from the Home Builders Association of St. Louis & Eastern Missouri (St. Louis HBA), four of the seven counties covered in the report experienced an increase in permits. Lincoln County continues to show great growth in new construction with an increase of a whopping 154%.

Search St Louis Homes For Sale   St Louis New Homes Continue Reading →

What is a REALTOR®?

By , on November 13th, 2024
National Association of REALTORS - (NAR) - Logo

The term “REALTOR®” is one of the most recognized in the real estate industry, but its meaning is often misunderstood. While many people assume all real estate agents are REALTORS®, that’s not the case. The distinction goes beyond holding a license—it’s tied to a specific organization, a shared history, and a professional designation with legal and ethical implications. Let’s explore where the term comes from, how it’s protected, and what it means today.

A Brief History of the Term

The term “REALTOR®” was coined in 1916 by Charles N. Chadbourn, a real estate agent who sought to create a professional Continue Reading →

Discover the Hottest School Districts in the St. Louis Metro Area

By , on November 12th, 2024

Are you looking to buy or sell a home in the St. Louis metropolitan area? If so, you’ll want to pay attention to the fastest selling school districts in the region. According to recent data, the top three districts with the shortest average days on market are located in Illinois.

Topping the list is MOUNT OLIVE DIST 5, with an average of just 15 days on the market for its four current listings. With an average list price of $199,325, this district offers a great value for families looking to settle down. Following closely behind is Wolf Branch DIST 113, Continue Reading →

Honoring Our Veterans: Protecting the American Dream

By , on November 11th, 2024
Veterans Day - Preserving the American Dream

Today, as we recognize Veterans Day, we take a moment to honor the men and women who have served and sacrificed to protect our freedoms. Veterans have defended our way of life, ensuring that the fundamental rights we enjoy as Americans are preserved, including the right to own property and pursue the American Dream of homeownership. Their dedication and bravery have not only safeguarded our nation but also reinforced the values that make homeownership possible in a free and democratic society.

Owning real estate is a privilege many of us might take for granted, but it’s rooted in the very Continue Reading →

Metro East Update: October 2024 Real Estate Market Shows Strong Growth

By , on November 9th, 2024

The latest data from MORE, REALTORS® reveals that the metro east real estate market continues to experience strong growth. In October 2024, the median sold price for homes in the metro east update was $205,000, representing an 11.14% increase from the same time last year when the median sold price was $184,450. This also marks a 2.22% increase from September 2024, when the median sold price was $200,550.

The median list price for homes in the metro east update also saw an increase, reaching $199,900 in October 2024, an 8.38% jump from October 2023’s median list price of $184,450. Additionally, Continue Reading →

St Charles County Real Estate Market Update as of October 2024

By , on November 8th, 2024

The real estate market in St Charles County continues to show strong growth as we head into the final months of 2024. According to the latest data from MORE, REALTORS®, the median sold price for homes in the St Charles County update during October 2024 was $370,000, representing a 5.74% increase from the same time last year. This also marks a 2.46% increase from September 2024, when the median sold price was $361,113.

The median list price for homes in the St Charles County update was $375,000, a 7.14% increase from October 2023. And with 406 home sales in October Continue Reading →

Why NAR Should Repeal the Speech Code: Rob Hahn’s Call for Change

By , on November 7th, 2024
NAR Code Of Ethics Standard of Practice 10-5

In his recent article, “Repeal the Speech Code,” Rob Hahn has urged the National Association of REALTORS® (NAR) to reconsider its controversial Standard of Practice 10-5. This policy, implemented in 2020, prohibits REALTORS® from using harassing or hate speech, epithets, or slurs based on protected classes, such as race, religion, and gender identity, in both professional and personal settings. Hahn argues that while intended to promote inclusivity, the policy overreaches and restricts REALTORS®’ freedom of speech outside of real estate-related activities.

The case of Brandon Huber, a REALTOR® and pastor, illustrates Hahn’s concerns. Huber was penalized under Standard of Practice Continue Reading →

Franklin County Update: October 2024 Real Estate Market Shows Decrease in Median Sold Price

By , on November 6th, 2024

The latest data from MORE, REALTORS® shows that the real estate market in Franklin County has seen a decrease in median sold price for the month of October 2024. Homes in the area sold for a median price of $253499, which is 7.82% lower than the median sold price in October 2023, which was $275000. Despite this decrease, last month’s median sold price of $253499 also represents a 3.26% increase from September 2024, when the median sold price was $245500.

The median list price in Franklin County also saw a decrease, dropping 5.28% from $265000 in October 2023 to $251000 Continue Reading →

Rising Homebuyer Ages and New Market Trends: NAR’s 2024 Profile

By , on November 5th, 2024
NAR 2024 Profile of Home Buyers and Sellers

The National Association of REALTORS® (NAR) 2024 Profile of Home Buyers and Sellers provides a comprehensive look at trends shaping the real estate market this year. From changing demographics to buyer challenges, this report highlights critical shifts in homebuying and selling behaviors. The full report is available below for readers who wish to explore it in detail.

One of the most notable trends is the rising age of both first-time and repeat homebuyers:

First-time buyers now have a median age of 38, marking a significant shift from the late-20s median seen in the 1980s. This increase reflects the growing challenges Continue Reading →

More Confusion, Less Transparency: Law Professor Objects to NAR Settlement

By , on October 30th, 2024
Legal Counsel Behind Billion-Dollar Verdict Vows to Enforce NAR Settlement Strictly

Tanya Monestier, a tenured law professor at the University at Buffalo School of Law and former professor at Roger Williams University School of Law, has stepped into the Sitzer v. NAR lawsuit with a compelling and meticulously researched objection to the proposed settlement. Monestier, whose academic work on contract law and consumer protection has been cited by courts across North America—including the United States Court of Appeals and the Supreme Court of Canada—brings a formidable legal background to her critique. Her objection portrays the settlement as a superficial, paper-only solution that leaves consumers vulnerable to the same anti-competitive practices it Continue Reading →

On-Time Rental Payments Drop To Lowest Level Since 2021

By , on October 25th, 2024
Rental Property in St Louis

The on-time payment rate for single-family rentals dropped to 85.3% in August 2024, marking its lowest point since September 2021, according to the chart below from Chandan Economics. This decline reflects a potential shift in tenants’ financial situations, as the rate had generally been stable over the past two years. Landlords, especially independent operators, may now face increased challenges maintaining cash flow as timely rental payments become less consistent.

The chart below highlights the historical fluctuations in rental payment punctuality, showing that single-family rental payments were on a recovery trend from earlier dips in 2020 and 2021. However, the latest Continue Reading →

St Louis City Update as of October 2024: Home Prices Continue to Rise

By , on October 21st, 2024
City of St Louis Real Estate

The real estate market in St Louis City has been on the rise, with home prices increasing steadily over the past year. According to the latest data from MORE, REALTORS®, the median sold price for homes in the St Louis City update during September 2024 was $222500, a 0.91% increase from the same time last year when the median sold price was $220500. However, there was a slight decrease of 2.20% compared to the previous month’s median sold price of $227500.

The median list price for homes in the St Louis City update also saw an increase of 2.38% from Continue Reading →

St. Louis County Real Estate Market Update: September 2024

By , on October 19th, 2024
St Louis County Real Estate

As of September 2024, the St. Louis County real estate market continues to show strong performance. According to the latest data from MORE, REALTORS®, the median sold price for homes in the county was $285,000, representing a 3.07% increase from September 2023. However, this is a slight decrease of 1.59% from August 2024 when the median sold price was $289,616.

The median list price for homes in St. Louis County also saw an increase, reaching $283,450 in September 2024, a 5.02% jump from the same time last year. Despite these increases, there were 944 home sales in September 2024, a Continue Reading →

DOJ, CFPB Secure $8 Million Settlement with Fairway Mortgage Over Lending Discrimination

By , on October 17th, 2024
Consumer Finance Protection Bureau (CFPB)

On October 15, 2024, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) announced a settlement with Fairway Independent Mortgage Corporation following allegations of discriminatory lending practices, or redlining, in predominantly Black neighborhoods in Birmingham, Alabama. As part of the resolution, Fairway agreed to pay $8 million in relief and a $1.9 million civil penalty to address claims that it avoided providing credit services in these communities due to residents’ race and national origin.

The settlement contributes to the DOJ’s broader efforts through the Combating Redlining Initiative, which has secured over $150 million in relief since its Continue Reading →

Discover the Hottest Zip Codes in St. Louis: Where Homes are Flying Off the Market

By , on October 16th, 2024

Are you in the market for a new home in the St. Louis metropolitan area? Look no further than the fastest selling zip codes in the region. According to recent data, the top three zip codes with the shortest average days on market are 63043, 63044, and 63117. With homes selling in just 8, 25, and 26 days respectively, these zip codes are in high demand for potential home buyers.

In 63043, the average list price for active listings is $249,311, making it an attractive option for families looking for affordable yet fast-selling homes. The second fastest selling district, 63044, Continue Reading →

St. Louis Real Estate: Inflation and Delinquency Trends Impacting Buyers and Sellers

By , on October 15th, 2024
Fed Reserve Bank of New York

The latest report from the Federal Reserve Bank of New York highlights some key shifts in consumer expectations that could impact the St. Louis real estate market. While inflation expectations remain stable at 3.0% for the next year, medium- and long-term expectations have ticked up slightly. This suggests that buyers and sellers in St. Louis may face rising costs in the coming years, particularly as home price growth expectations hover around 3.0%, showing little movement. The labor market offers some reassurance, with more people feeling confident about finding a job if they lose one, but the rising likelihood of missed Continue Reading →

Jefferson County Real Estate Market Update for September 2024

By , on October 15th, 2024
jefferson County Real Estate

The real estate market in Jefferson County has continued to show strength and growth, according to the latest data available from MORE, REALTORS®. In September 2024, the median sold price for homes in the Jefferson County area was $274,900, a 7.80% increase from the same time last year when the median sold price was $255,000. This also marks a 1.81% increase from August 2024, when the median sold price was $270,000.

The median list price for homes in Jefferson County also saw an increase, rising to $269,900 in September 2024, an 8.00% jump from $249,900 in September 2023. However, there Continue Reading →

Discover the Fastest Selling School Districts in the St. Louis Metro Area

By , on October 14th, 2024

Are you in the market for a new home in the St. Louis metropolitan area? Look no further than these top three fastest selling school districts! According to recent data, MULBERRY GROVE DIST 1 in Illinois takes the top spot with an average of only 1 day on the market for its 2 active listings, with an average list price of $197,500. Coming in at a close second is Shiloh Village DIST 85, also in Illinois, with 6 listings and an average of 11 days on the market. And in third place is Sunrise R-IX in Unincorporated, Missouri, with 4 Continue Reading →

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