Memorial Day Events: Honoring History and Community in St. Louis

As we commemorate Memorial Day, it’s a time for reflection on our history and community. In St. Louis, Memorial Day holds particular significance, intertwining with our city’s rich historical tapestry.

The Historical Roots of Memorial Day in St. Louis

Memorial Day, originally known as Decoration Day, was established after the Civil War to honor fallen soldiers. St. Louis, with its strategic location and historical military significance, has always played a pivotal role in these commemorations. Jefferson Barracks National Cemetery, one of the oldest military cemeteries in the United States, serves as the final resting place for over 188,000 soldiers, spanning conflicts from the Revolutionary War to the present day. Each year, the cemetery becomes a focal point for Memorial Day activities, reminding us of the sacrifices made by countless individuals to protect our freedoms.

Community and Neighborhood Celebrations

Memorial Day serves as a reminder of the importance of community and remembrance. Neighborhoods throughout St. Louis host events and parades, fostering a sense of unity and pride. Here are some notable celebrations:

Jefferson Barracks National Cemetery: Annual Memorial Day Ceremony

  • Event: Memorial Day Wreath-Laying Ceremony
  • Time: 10:00 AM
  • Details: Military honors, commemorative speeches, playing of Taps, and a rifle volley.
  • Location: Jefferson Barracks National Cemetery, 2900 Sheridan Road, St. Louis, MO

Soldiers Memorial Military Museum: Memorial Day Ceremony

  • Event: Memorial Day Ceremony
  • Time: 10:00 AM – 12:00 PM
  • Details: Adding names of 254 St. Louisans who died in the Vietnam War to the Court of Honor, performances by the Red and Black Brass band, and a procession to the Court of Honor.
  • Location: 1315 Chestnut St., downtown St. Louis, MO

Lafayette Square: Memorial Day Picnic

  • Event: Memorial Day Picnic
  • Time: 11:00 AM – 2:00 PM
  • Details: The neighborhood association organizes a picnic in Lafayette Park, featuring historic home tours, live music, and activities for children, celebrating the community’s heritage and honoring those who served.
  • Location: Lafayette Park, Lafayette Square, St. Louis, MO

Belleville Memorial Day Parade

  • Event: Annual Memorial Day Parade
  • Time: Parade starts at 10:00 AM, Memorial Day Program starts at 11:00 AM
  • Details: Parade route ends at Walnut Hill Cemetery, followed by a Memorial Day Program.
  • Location: Downtown Belleville, IL

Central West End: Memorial Day Parade and Walking Tour

  • Event: Memorial Day Parade and Walking Tour
  • Time: Parade at 10:00 AM, Walking Tour at 12:00 PM
  • Details: The parade winds through the Central West End neighborhood, followed by a local history walking tour highlighting the area’s historical significance and military connections.
  • Location: Central West End, St. Louis, MO

Forest Park: Memorial Day 5K Run

  • Event: Memorial Day 5K Run
  • Time: 8:00 AM
  • Details: A 5K run through Forest Park, followed by a memorial service at the park’s Soldiers Memorial, honoring fallen soldiers with speeches and a moment of silence.
  • Location: Forest Park, St. Louis, MO

The Delmar Loop: Memorial Day Street Festival

  • Event: Memorial Day Street Festival
  • Time: 11:00 AM – 5:00 PM
  • Details: A street festival featuring live music, food vendors, and special performances, including a tribute to local veterans and active-duty military personnel.
  • Location: Delmar Loop, St. Louis, MO

University City Memorial Day Run

  • Event: 50th Annual University City Memorial Day Run
  • Time: 7:30 AM – 12:00 PM
  • Details: This event features a 10K run starting at 7:30 AM, a 5K run starting at 7:50 AM, and a Family Fun Run starting at 9:15 AM. The runs begin in front of the University City Public Library and pass by many of University City’s landmarks and beautiful gardens. Proceeds from the event benefit the University City Public Library, The Green Center, and U City in Bloom.
  • Location: University City Public Library, 6701 Delmar Blvd, University City, MO

Ballwin Memorial Day Ceremony

  • Event: Memorial Day Ceremony
  • Time: 11:15 AM
  • Details: Includes Color Guard VFW Post 6274 and a performance by the Donneresas.
  • Location: Peace Memorial at Vlasis Park, Ballwin, MO

Manchester Memorial Day Remembrance Ceremony

  • Event: Memorial Day Remembrance Ceremony
  • Time: 10:00 AM
  • Details: The ceremony will feature U.S. Navy Reserve Commander Sam Fletcher as the speaker, and will include a bald eagle from the World Bird Sanctuary, music by the Manchester Community Band, and the Flags of Valor presentation, recognizing service members killed in action since September 11.
  • Location: Veterans Memorial in Stoecker Park, 222 Henry Ave, Manchester, MO

Sappington-Concord Historical Society Memorial Day Ceremony

  • Event: Memorial Day Ceremony
  • Time: 10:00 AM
  • Details: The traditional ceremony will include community participation and honor local veterans. The Sappington-Concord Historical Society hosts this event, which is a long-standing tradition in the area.
  • Location: Sappington-Concord Historical Society, Sappington, MO

Alton Memorial Day Parade

  • Event: Alton Memorial Day Parade
  • Time: 10:00 AM
  • Details: The Alton Memorial Day Parade is touted as the oldest consecutive Memorial Day parade in America, having run every year since 1868. The celebration begins at Alton Middle School and concludes at the Alton City Cemetery. The parade features various floats, marching bands, and community groups, all coming together to honor those who have served and sacrificed.
  • Location: Starts at Alton Middle School, 2200 College Ave, and ends at Alton City Cemetery, 1205 East 5th St., Alton, IL

Collinsville Memorial Day Service

  • Event: Collinsville Memorial Day Service
  • Time: 10:30 AM
  • Details: The Collinsville Memorial Day Service will be held at the Collinsville VFW. The event will feature a guest speaker, John Shimkus, and a performance by the Collinsville High School band. A light lunch will be served following the ceremony, allowing the community to gather and reflect on the significance of the day.
  • Location: Veterans of Foreign Wars, 1234 Vandalia Street, Collinsville, IL

Wings Over St. Louis

  • Event: Wings Over St. Louis
  • Time: 9:00 AM – 5:00 PM
  • Details: This event at the Spirit of St. Louis Airport in Chesterfield features historic warbird flights, static displays of vintage aircraft, and educational activities. Visitors can ride in one of the warbirds, view historic military vehicles, and participate in interactive learning experiences. The event is family-friendly and offers a unique opportunity to experience aviation history up close.
  • Location: Spirit of St. Louis Airport, 18270 Edison Ave, Chesterfield, MO

These community events not only honor the memory of those who served but also enhance the appeal of St. Louis neighborhoods, making them attractive to potential homebuyers looking for areas with a strong sense of community and history.

May 2024 Housing Market: Homeowners Locked in by Low Mortgage Rates

The Freddie Mac U.S. Economic Housing and Mortgage Market Outlook for May 2024 reveals significant insights into how mortgage interest rates are impacting the housing market, particularly across different generations. With the 30-year fixed-rate mortgage recently surpassing 7%, many prospective homebuyers find themselves priced out of the market. At the same time, current homeowners are hesitant to sell, clinging to historically low rates secured in 2020 and 2021. According to Freddie Mac’s chart below, over 60% of mortgages have rates below 4%, creating a substantial financial disincentive for homeowners to move, effectively locking them into their current homes. Homeowners who secured these low rates have, on average, locked in $66,000 in savings, which they would forfeit if they sold their homes in the current high-rate environment.

Analyzing the borrower-level National Mortgage Database, it becomes clear that Millennials and Gen Xers have benefited most from the low-rate environment, with average rates around 4%. Millennials, who entered the market en masse during the low-rate period of 2020-2021, secured favorable rates primarily through purchases, while Gen Xers capitalized on refinancing opportunities. In contrast, Gen Z, stepping into the market more recently, faces the highest average rates at 4.9%, with many having purchased homes during the higher rate periods of 2022 and 2023. This generational disparity in mortgage rates suggests that while refinance opportunities remain slim, should rates decline, there could be significant refinancing activity, especially among Gen Xers and Millennials.


Percentage of Homeowners with Mortgages at Various Rate Levels

Percentage of Homeowners with Mortgages at Various Rate Levels

St. Louis Metro Area YTD Home Sales Show Steady Increase in 2024

The St. Louis metropolitan area, which covers counties in both Missouri and Illinois, has seen a strong start to the year in terms of home sales. According to data from MORE, REALTORS®, there have been 9,035 homes sold in the St. Louis metro area through the end of April 2024. This represents a 5.54% increase from the same period last year, where 8,561 homes were sold.

While this year’s YTD home sales may be lower compared to four years ago, with a decrease of 11.78%, it is important to note that the overall trend is still positive. This is great news for both potential home buyers and sellers in the St. Louis metro area, as it indicates a stable and growing real estate market. For those looking to buy or sell a home, it is worth considering the fastest selling zip codes in the area, which can be found in the complete list provided by MORE, REALTORS®. So if you’re thinking about making a move in the St. Louis metro area, now is a great time to do so.

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

Are you looking to buy or sell a home in the St. Louis metropolitan area? Look no further! According to recent data, the fastest selling zip code in the area is 62084 in Madison-IL, IL. With an average of only 3 days on the market, homes in this zip code are in high demand. And with an average list price of $187,375, sellers can expect to get top dollar for their properties.

But that’s not all. The second and third fastest selling districts in the St. Louis metro area are also located in Madison-IL, IL and St Clair-IL, IL, respectively. These areas have an average of 6 and 12 days on the market, making them hot spots for both buyers and sellers. So, whether you’re a family looking for a new home or an investor searching for a lucrative opportunity, these zip codes are worth considering.

To see the complete list of the fastest selling zip codes in the St. Louis metro area, be sure to check out MORE, REALTORS®. With their expertise and knowledge of the local market, they can help you find the perfect home or sell your property quickly and efficiently. Don’t miss out on these hot zip codes – start your search with MORE, REALTORS® today!

Discover the Top 3 Fastest Selling School Districts in St. Louis!

Attention all home buyers and sellers in the St. Louis metropolitan area! Are you looking for a quick and seamless real estate experience? Look no further than the top three fastest selling school districts in the region. According to recent data, Freeburg DIST 70 in Illinois takes the top spot with an impressive average of only 12 days on the market for its two active listings, with an average list price of $344,000. Coming in at a close second is Windsor C-1 in Unincorporated, MO, with six listings and an average of just 15 days on the market. And rounding out the top three is Dupo DIST 196 in Illinois, with five listings and an average of 18 days on the market.

For those looking to buy or sell a home in these areas, this is great news. The fast pace of these school districts means that homes are in high demand and are selling at a quick rate. And for families, this is a great opportunity to find a home in a top-performing school district. For a complete list of the fastest selling school districts in the St. Louis metropolitan area, be sure to check out MORE, REALTORS®. Don’t miss out on your chance to be a part of these thriving communities. Start your home search or listing process today!

Metro East Update: Home Prices Continue to Rise in April 2024

The real estate market in the metro east area is showing no signs of slowing down. According to the latest data from MORE, REALTORS®, homes in the metro east update sold for a median price of $183,711 during April 2024. This represents a 5.58% increase from April 2023, when the median sold price was $174,000.

However, there was a slight decrease of 0.40% compared to March 2024, when the median sold price was $184,450. The median list price also saw a significant increase, rising by 8.79% from $170,000 in April 2023 to $184,950 in April 2024.

The number of home sales in the metro east update also saw a significant increase, with 626 homes sold in April 2024 compared to 510 in April 2023. This represents a 22.75% increase, indicating a strong demand for homes in the area.

As the chart below, available exclusively from MORE, REALTORS®, illustrates, the metro east real estate market continues to be a hot market for both buyers and sellers. With rising home prices and a high number of sales, it’s a great time to be a part of the metro east real estate market.

If you’re considering buying or selling a home in the metro east area, don’t hesitate to contact MORE, REALTORS® for expert guidance and assistance. Our team of experienced real estate agents will help you navigate the market and make the most informed decisions. Stay tuned for more updates on the metro east real estate market.

St Charles County Real Estate Market Update as of May 2024

The real estate market in St Charles County, MO continues to show strength and stability as we head into the summer months. According to the latest data available exclusively from MORE, REALTORS®, the median sold price for homes in the St Charles County update was $360,000 in April 2024. This represents a 2.06% increase from April 2023, when the median sold price was $352,750.

While there was a slight decrease of 2.82% from the previous month, when the median sold price was $370,450, the overall trend for home prices in St Charles County remains positive. Additionally, the median list price for homes in April 2024 was $350,000, which is the same as it was in April 2023.

The number of home sales in St Charles County also saw an increase, with 365 homes sold in April 2024. This is a 4.89% increase from April 2023, when there were 348 home sales.

As the market continues to show stability and growth, now is a great time to buy or sell a home in St Charles County. Contact MORE, REALTORS® for expert guidance and assistance with all of your real estate needs.

Franklin County Real Estate Market Update as of May 2024

The latest data from the Franklin County update shows a continued upward trend in the real estate market. In April 2024, the median sold price for homes in the county was $245,450, representing a 5.34% increase from the same month last year. This also marks a slight decrease of 0.63% from March 2024.

The median list price for homes in Franklin County was $246,450, a 6.02% increase from April 2023. In terms of sales, there were 108 homes sold in April 2024, a significant 54.29% increase from April 2023.

For a visual representation of this data, refer to the chart below, available exclusively from MORE, REALTORS®. This data indicates a strong and active real estate market in Franklin County, making it a desirable location for both buyers and sellers. Stay tuned for more updates on the Franklin County real estate market.

St. Louis Metro Area Real Estate Market Update – April 2024

As of April 2024, the St. Louis metro area real estate market continues to show steady growth. According to data from MORE, REALTORS®, the median sold price for homes in the St. Louis area was $260,000, representing a 2.36% increase from April 2023 when the median sold price was $254,000. This also marks a 4.00% increase from the previous month, March 2024, when the median sold price was $250,000.

The median list price for homes in St. Louis was $250,000, a slight 0.04% increase from April 2023. This indicates that sellers are still able to command a strong price for their homes in the current market.

In terms of sales, there were 2,634 home sales in the St. Louis metro area in April 2024, a 9.70% increase from April 2023. This shows a continued high demand for homes in the area.

For those looking to buy or sell a home in the St. Louis metro area, now is a great time to take advantage of the strong market conditions. With the help of a knowledgeable and experienced REALTOR from MORE, REALTORS®, buyers and sellers can navigate this competitive market with confidence. Stay tuned for more updates on the St. Louis real estate market.

St. Louis Real Estate Set for a Comeback: Insights from NAR Chief Economist Lawrence Yun

Lawrence Yun, Chief Economist for the National Association of REALTORS

Lawrence Yun, Chief Economist for the National Association of REALTORS

In his forecast yesterday at the 2024 REALTORS® Legislative Meetings, National Association of Realtors® Chief Economist Lawrence Yun delivered a promising outlook for the real estate market with expectations for rising existing-home sales. According to Yun, the U.S. is likely to see existing-home sales increase to 4.46 million in 2024, a 9% rise from 2023, and surge to 5.05 million in 2025. Yun highlighted, “More jobs mean more home sales and higher housing demand. You need a strong local economy for a strong housing market.”

Additionally, Yun noted a significant calming in rental markets, which will help stabilize the consumer price index, encouraging the Federal Reserve to consider lowering interest rates. He remarked, “The Federal Reserve has delayed rate cuts. I would have thought that, by now, rates would be lower and rate cuts would have begun. Whatever rate cut the Federal Reserve does not do this year will simply get pushed back to 2025.”

For individuals looking to navigate the St. Louis real estate market, the expertise of MORE, REALTORS® can prove invaluable. Our agents are equipped with the latest insights and are prepared to guide clients through the intricacies of buying or selling homes in today’s economic landscape. As Yun emphasized, the strong economic fundamentals support a vibrant housing market, underscoring real estate as a prudent investment for building personal wealth.

St Louis Metro-Area Home Sales and 12-Month Trend – Past 15 Years

(click on report for live report)

St Louis Metro Area Home Sales and 12-Month Trend Past 15 years

St. Louis Metro Area 12-Month Home Sales Trend Hits Highest Level in Eight Months

The 12-month home sales trend chart below from MORE, REALTORS® shows a slight upward tick in St. Louis home sales. In April, 32,210 homes were sold during the 12-month period ending in April, marking the highest home sales trend in St. Louis since August 2023. Granted, this is spring—a typically strong selling season for real estate. However, the 12-month sales ending in April 2024 are below the figures from a year ago, which stood at 34,490. Nonetheless, this uptick is a positive sign. It’s also noteworthy that this April marks the first time in three years that the trend has increased from March to April; in both 2022 and 2023, the trend declined during these months.

St Louis MSA 12-Month Home Sales Trend Chart

(click on chart for live, interactive chart)

St Louis MSA 12-Month Home Sales Trend Chart

St. Louis Metro Real Estate 2024: Key Trends and Market Analysis

The St. Louis Metropolitan real estate market has experienced notable shifts in its latest 12-month cycle ending April 2024, as compared to the previous year. Firstly, the total number of homes sold in the St. Louis Metro area has seen a decline. Over the past 12 months, ending April 2024, St Louis home sales totaled 32,220 homes, a decrease of 6.58% from the previous year’s 34,490 homes. This reduction in sales volume may reflect a variety of market factors including economic shifts or changes in buyer sentiment.

Conversely, the median sold price for homes has edged upwards, indicating a resilient market valuation. The median sold price for homes in St Louis rose by 1.92% from $249,900 in the prior year to $254,700 in the period ending April 2024. This growth suggests a sustained buyer interest in value, despite the lower sales volume.

Inventory dynamics also present an intriguing picture. The number of listings sold last month was 2,612, with current listings standing at 2,840, and a supply of just over one month (1.09 months). These figures, coupled with a median of 22 days on market, highlight a competitive and swift market environment, challenging both buyers and sellers to act efficiently.

The STL Market Report below, available exclusively from MORE, REALTORS®,  has more details on the above information as well as additional useful St Louis market data as well. For prospective buyers, sellers, and investors, understanding these market dynamics is crucial. The expertise of MORE, REALTORS® can provide the necessary guidance and strategic advice to effectively navigate this evolving market landscape.

STL Market Report- St Louis Metro Area

(click on report for live report)

STL Market Report- St Louis Metro Area

Mortgage Rates Ease to lowest level in over three weeks

Interest rates for a 30-year fixed-rate conventional mortgage declined to 7.28% today, down from their five-month high of 7.52%, reached just over a week ago. Today’s rate marks the lowest since April 9, when the interest rate on a 30-year fixed-rate mortgage stood at 7.06%.

Although the accompanying chart traces the trajectory of interest rates over the past 40 years, extending back to 1980, it does not predict their future movements. The direction of mortgage rates is influenced by a myriad of factors including, but not limited to, Federal Reserve policies, inflation expectations, and global economic conditions. Currently, experts are closely monitoring the Fed’s monetary policy adjustments in response to inflation rates. Historical data suggests that significant shifts in policy can lead to rapid changes in mortgage rates. Therefore, potential homebuyers and investors should stay informed through reliable financial news sources and consult with seasoned real estate professionals, such as those at my company, MORE, REALTORS®, to navigate the complexities of the mortgage market effectively.

Mortgage Interest Rates – 1980 – Present

(click on chart for entire live, interactive chart)Mortgage Interest Rates - 1980 - Present

Three Counties In The St Louis Area Experience Double Digit Growth in Building Permits

During the 12-month period ending March 31, 2024, a total of 4,070 building permits were issued for new single-family homes in the St. Louis area, marking a 3.83% increase from the previous 12 months, which recorded 3,920 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 a decline in permits. The City of St. Louis saw the largest decrease, with a 13.31% drop. Conversely, the three counties that experienced an increase in building permits all reported double-digit growth


St Louis New Home Building Permits – March 2024

(click on table below for page with live charts showing additional permit data)St Louis New Home Building Permits - March 2024


On-Time Rent Payments By Tenants Declines In April

According to the latest Independent Landlord Rental Performance Report by Chandan Economics, April 2024 witnessed a decline in on-time rental payments in independently operated rental units nationwide, dropping to 85.2%. As illustrated by the chart below, this marks a decrease from 87.0% the prior month and 87.8% a year ago. Western states, notably Utah, Alaska, and Colorado, continue to lead the nation with the highest on-time payment rates. However, it’s worth noting that here in Missouri, only 82% of tenants paid their rent on time in April, resulting in Missouri ranking 43rd in the country for on-time rent payments.

Lease Options: An Innovative Path to Home Ownership

In today’s real estate market, characterized by low inventory and somewhat high interest rates, the idea of buying a home can be daunting for some, especially those who are undecided about their long-term plans. Lease options present a compelling solution, offering flexibility and a strategic stepping stone toward owning a home. This approach is ideal for individuals who are still considering their options in terms of location, saving for a substantial down payment, or waiting for potentially lower interest rates.

A lease option allows tenants to live in a property with the option to purchase it at the end of the lease term at a previously agreed-upon price. This setup is especially beneficial for those who may want to test out a neighborhood before fully committing or for those looking to amass more savings before securing a mortgage.

MORE, REALTORS offers a program that empowers tenants to shop like home buyers from the start, enhancing their flexibility and control over the home-buying process. Designed as a proactive choice, this program enables tenants to make more informed decisions about their future home. It provides an excellent opportunity to transition smoothly from renting to owning, aligning with their financial planning and readiness to commit to homeownership. Find out more at


HomeServices of America Settles Commission Lawsuits, Bringing Total to Over $943 Million

Home sellers have reached a momentous $250 million settlement with HomeServices of America and its subsidiaries, including Long & Foster Companies, BHH Affiliates, LLC, and HSF Affiliates, LLC. This settlement, disclosed in a recent press release by the law firm representing the plaintiffs, resolves class action claims as part of a broader dispute over commission costs in the real estate industry.

In a landmark case held on October 31, 2023, a Missouri jury found HomeServices of America, along with the National Association of Realtors (NAR) and Keller Williams, culpable of conspiring to inflate commission fees, resulting in nearly $1.8 billion in damages. While this settlement absolves HomeServices of America from further claims in this specific litigation, it does not extend to Berkshire Hathaway Energy or its affiliates, maintaining their exposure to potential liabilities.

The recent $250 million agreement contributes to a total exceeding $943.25 million in settlements reached in related cases over the past year. Earlier settlements include a $418 million agreement with NAR in March 2024, and others involving major industry players such as Anywhere Real Estate, RE/MAX, Keller Williams, Compass, and Real Brokerage Inc., underscoring a significant reform movement within the real estate brokerage sector.

“These settlements mark a pivotal moment for American home sellers, who have historically been burdened with excessive commission fees,” remarked Benjamin D. Brown, Managing Partner of Cohen Milstein Sellers & Toll. The lawsuit originated from Moehrl, et al. v. National Association of Realtors, which challenged the NAR’s policy requiring home sellers to offer non-negotiable compensation to buyer brokers, significantly affecting the cost transparency and fairness in real estate transactions.

For more detailed information on the implications of these settlements and how they might affect your next real estate decision, consider consulting with a knowledgeable professional at MORE, REALTORS®, whose agents remain at the forefront of industry standards and practices.

Additional Resources:

Mortgage Interest Rates Slightly Ease Today, Falling from a Five-Month High

Interest rates for a 30-year fixed rate conventional mortgage hit 7.52% yesterday, the highest rate in five months, since November 13, 2023 when they were 7.58%.  Today, however, they eased and the 30 year fixed rate mortgage interest rate dropped slightly to 7.45% and the interest rate for a 30-year FHA loan slipped below 7% to 6.95%.

The chart below shows interest rates  for over 40 years, back to 1980 and shows about as much change as we’ve seen in fashion and technology during the period — from an astronomical high of 18.29% in October 1981 to an unbelievable low of 2.80% in November 2020.  Don’t you wish you had a Time Machine and could travel back 4 years and snag a loan?

Mortgage Interest Rates – 1980 – Present

(click on chart for entire live, interactive chart)

Mortgage Interest Rates - 1980 - Present

St. Louis YTD Home Sales Rise Over 2023 But Lag Behind Earlier Years

The St. Louis 5-County Core market, encompassing St. Louis City County, St. Louis County, St. Charles County, Franklin County, and Jefferson County, reported a total of 4,518 home sales Year-to-Date through March 2024. This reflects a 4% increase in St. Louis home sales for the same period last year, which had 4,340 home sales. However, as the chart below—available exclusively from MORE, REALTORS®—shows, this represents varied performance compared to earlier years. In March 2022, there were 5,218 sales, a notable peak compared to 5,803 in 2021 and 5,216 in 2020.

This data highlights the fluctuations in the real estate market and is essential for understanding the current trends affecting both buyers and sellers in the region. For those navigating the complexities of real estate transactions, MORE, REALTORS® offers experienced guidance and in-depth market analysis

St Louis 5-County Core Market YTD Home Sales – 2020-2024

(click on chart for live, interactive chart)

St Louis 5-County Core Market YTD Home Sales - 2020-2024

March 2024 Mortgage Update: Serious Delinquencies Drop to Lowest Since Mid-2006

According to the latest report from Intercontinental Exchange, the U.S. mortgage market showed promising signs of stability in March 2024. The national delinquency rate decreased to 3.20%, marking a modest drop from February but remaining slightly higher than the record low observed in March 2023. Notably, serious delinquencies, which track loans 90+ days past due but not in active foreclosure, decreased significantly. These serious delinquencies fell by 24,000 cases—a 5.2% reduction from February, reaching their lowest level since mid-2006. This improvement is particularly significant as it occurred during a month that historically sees fluctuations due to its conclusion on a Sunday, a pattern observed only thrice in the last two decades.

In addition to a decrease in serious delinquencies, March saw a downturn in the number of loans in active foreclosure, dropping to 205,000—the fewest since January 2022 and 28% below pre-pandemic levels. Moreover, prepayment activity, often a sign of a healthy housing market, reached its highest point in seven months, encouraged by lower interest rates and the onset of the spring homebuying season. The attached chart below this article provides a visual depiction of these positive trends in delinquency and foreclosure data.

March 2024 – Mortgage Performance

March 2024 - Mortgage Performance 

Beware of Unjust Fees: Insights from the Latest CFPB Mortgage Report

The Consumer Financial Protection Bureau’s (CFPB) Spring 2024 report on mortgage servicing reveals critical issues that prospective and current homeowners should be aware of. The report highlights a troubling trend of unauthorized charges and deceptive practices in mortgage servicing, which could impact a homeowner’s financial stability and property rights. For instance, some services were found to be charging illegal property inspection fees, particularly on Fannie Mae loans, despite guidelines clearly prohibiting such fees when certain conditions are met. These unjust fees, ranging from $10 to $50, were imposed even when borrowers were actively engaging with their servicers, highlighting a significant breach of trust and a potential drain on homeowner resources .

Moreover, the report exposes servicers for levying unauthorized late fees, violating both consumer trust and regulatory requirements. These overcharges, which occurred due to flawed administrative processes or oversight, are especially egregious as they can unfairly increase the financial burden on homeowners. The CFPB’s commitment to scrutinizing such practices is a reminder of the need for vigilance among consumers. The report’s findings underscore the importance of homeowners staying informed and proactive in managing their mortgage accounts to avoid falling victim to these predatory practices. For a deeper understanding and additional details, consider reviewing the complete report below .

CFPB Supervisory Highlights – Mortgage Servicing Edition – Spring 2024

(click below to access complete report)

CFPB Supervisory Highlights - Mortgage Servicing Edition - Spring 2024

Court Grants Preliminary Approval in Major Real Estate Settlement Involving National Association of Realtors

In a significant development in the class-action lawsuit against the National Association of Realtors (NAR) and several major real estate entities, the U.S. District Court for the Western District of Missouri has granted preliminary approval for a proposed settlement. This lawsuit, led by plaintiffs Rhonda Burnett, Jerod Breit, Jeremy Keel, Hollee Ellis, and Frances Harvey, represents a class of U.S. homeowners who paid commissions to brokers upon the sale of their homes through multiple listing services during specific periods spanning from 2014 to the present. The court’s decision, as detailed in the document “Sitzer v NAR – Motion for Preliminary Approval of Proposed Settlement – Order Granted,” acknowledges the fairness, reasonableness, and adequacy of the settlement, setting the stage for final approval pending further review and a hearing scheduled for November 2024.

The complete details can be found in the courts order below.

Missouri Homeowners Insurance Holds Steady Amid National Crisis Concerns

The St. Louis Business Journal today published an article with the headline “A hidden cost of homeownership is mounting — and approaching crisis levels”. The article began with “homeowners across the country are facing an insurance crisis — and it’s driving up housing costs”, and then quoted a study indicating that 72% of U.S. homeowners said the cost of their homeowners insurance had increased over the past year. Well, sometimes it’s better to not have ocean views, mountains, and the like, and to be situated in the middle of the country like we are here in St. Louis—and this would be one of those occasions.

Homeowners Insurance Not Projected to Increase in Cost in 2024:

According to a study by Insurify, home insurance rates are expected to rise by 6% this year after a 20% increase over the last two years. However, the study indicates that in Missouri, the average cost of homeowners insurance in 2023 was $2,706 and for 2024 it’s projected to be $2,697. So, no increase in Missouri and actually a few bucks in savings.

Within Missouri, the cost of insurance varies by location. Here are a few examples of the average monthly quote for homeowners insurance for several cities within Missouri:

  • Florissant – $206
  • St. Charles – $186
  • St. Joseph – $213
  • St. Louis City – $232
  • Springfield – $224

There are many factors that come into play regarding the cost of insurance beyond the location, such as the home’s replacement cost. This figure represents the cost to rebuild your home using similar materials and is influenced by several factors, including the age of your home, its square footage, architectural style, and the local rebuilding costs in your area. Coverage options also play a vital role. Homeowners who opt for additional coverages, such as protection for sewer lines, natural disasters, and high-value possessions, will generally see an increase in their insurance rates.

This is why it’s important to have a knowledgeable insurance agent and preferably one with access to coverage from many different companies to help you select the right company and coverage for your situation. A good place to start is, where you can find many helpful short videos about homeowners insurance, particularly from the standpoint of a homebuyer.

Most Expensive States for Home Insurance in 2024

Most Expensive States for Home Insurance in 2024

St. Louis Area Home Sales Stabilize to 2015 Levels

The St. Louis metro area’s real estate market has demonstrated significant fluctuations in home sales over the past fifteen years, revealing interesting trends for both homebuyers and sellers. Analysis of the 12-month home sales data chart, exclusively available from MORE, REALTORS®, illustrates a series of peaks and troughs that correspond closely with various economic factors impacting the region. St Louis home sales fell to the lowest point during the 15-year period in June 2011 when the 12-month period had 23,194 sales.  Since hitting that low home sales have steadily increased until the 12-month trend hit 43,689 sales for the period ended September  2021.  Since hitting that high, the sales trend has steadily decreased, while interest rates have increased at the same time, and appears to have stabilized around the 32,000 homes mark or at least has stayed at the level for the past 8 months.  The median price of homes sold during the same period went from $97 per foot when sales hit their low in June 2011 to $170 per foot in March 2024 reflecting an annual rate of increase of 6.43%.

12-Month Home Sales and Price Trend – Past 15 Years

(click on chart for live, interactive chart)

12-Month Home Sales and Price Trend - Past 15 Years

Steady Increase in Commercial Real Estate Foreclosures Over the Past Year

Based on the data from the recent ATTOM report on U.S. commercial foreclosures, there is a noticeable trend that highlights the challenges and changes in the commercial real estate market over the past decade. The report indicates a significant increase in commercial foreclosures, rising to 625 in March 2024 from a low of 141 in May 2020—a time characterized by pandemic-induced economic shocks and responsive fiscal interventions. This sharp rise represents a 117% year-over-year increase and underscores a broader economic narrative where, despite short-term stabilizations, long-term market corrections have been a constant presence.

States like California, New York, and Florida have borne the brunt of these fluctuations. For instance, California experienced a dramatic 405% increase from last year, showcasing how regional factors and state-specific economic conditions have influenced foreclosure rates. This analysis not only offers insights into the challenges faced by the commercial real estate market but also highlights the sector’s resilience and capacity to navigate through a continuum of economic cycles.

The recent spike in commercial foreclosures has raised questions about the interconnectedness of the commercial and residential real estate markets. Historically, these two sectors have shown some level of correlation, as economic factors affecting businesses often spill over into the residential sphere. For instance, a downturn in commercial real estate can lead to job losses and reduced consumer spending, which in turn can soften the residential market. However, the current trends suggest a more complex relationship, with the residential market remaining relatively stable despite significant upheavals in commercial real estate.  In the coming months we’ll see if that trend continues.

US Commerical Foreclosures 2014 – 2024 (Chart)

US Commerical Foreclosures 2014 - 2024 (Chart)

Slowest Selling Zip Codes in the St. Louis Metro Area

The St. Louis Metro area (MSA), which spans parts of Missouri and Illinois, has a diverse real estate market with some zip codes seeing properties sell slower than others in spite of the low-inventory market we are in. Based upon the report below, available exclusively from MORE, REALTORS®, the slowest selling zip code in the St Louis metro area is 63131 in St Louis County, Missouri where the current average days on market for active listings is a whopping 201 days. Next is 62249 in Madison County Illinois with an average of  152 days on the market.Notably, 8 of the top 10 slowest-selling zips are located in Missouri and 4 of those within the city of St Louis.


Slowest Selling Zip Codes in St Louis

(click on table for complete list with current data)

Slowest Selling Zip Codes in St Louis

Will the NAR Commission Lawsuit Settlement Change Real Estate Practices in St. Louis?

Since the National Association of Realtors (NAR) and the plaintiffs in the following lawsuits—Christopher Moehrl v. The National Association of Realtors et al., Rhonda Burnett (originally Sitzer) v. The National Association of Realtors et al., Dawin Niel Umpa v. The National Association of Realtors, et al., and Don Gibson v. The National Association of Realtors—reached a settlement agreement on March 15, 2024, which is still pending court approval and thus preliminary at this point, the topic has dominated industry conversations. The focus of these lawsuits on buyer’s agent commissions has attracted more media attention since mid-March than it seems to have received in the over 40 years I’ve been in the business before that. Don’t get me wrong, I’m not saying all this attention is bad. In fact, I believe it is beneficial. I’ve long advocated for educating consumers, feeling that the more home buyers and sellers know, the better decisions they can make. This is why I’m rapidly approaching the milestone of 3,000 articles on the topic of real estate in St. Louis on this site.

Now, I don’t do this solely for altruistic reasons; sharing the information and knowledge I’ve gained either through experience or research is also self-serving. As a broker-owner of MORE, REALTORS®, I’ve put forth just as much effort in sharing knowledge with our agents, and I am blessed to be surrounded by real estate professionals who are as eager as I am to increase their knowledge and hone their skills to better serve clients. Here’s the reward for me: informed and knowledgeable consumers seek out better and more professional agents, like the ones we’re in business with, creating a win-win situation.
Having said all that, while the attention from the media is beneficial, unfortunately, there is a lot of incorrect information out there and assertions being made that don’t seem to be based on facts, but rather on opinion. Oh yes, I have opinions too, plenty of them, many of which are shared on this site, but to the extent possible, I try to base them on facts and include the sources of my opinions.

Supreme Court Affirms Property Rights in SHEETZ v. COUNTY OF EL DORADO

The Supreme Court has rendered a unanimous decision in the landmark case SHEETZ v. COUNTY OF EL DORADO, involving petitioner George Sheetz and the imposition of a traffic impact fee by El Dorado County, California. The key points of the decision are as follows:

Background: George Sheetz was mandated to pay a $23,420 traffic impact fee as a condition for obtaining a residential building permit, which he contested as an unlawful exaction under the Takings Clause.

Court’s Decision: The Supreme Court, in an opinion delivered by Justice Barrett, vacated the ruling of the California Court of Appeal. The decision clarified that the Takings Clause does not differentiate between legislative and administrative land-use permit conditions, reinforcing property rights protections against arbitrary government exactions.

Legal Principles Invoked: The Court applied the tests from Nollan v. California Coastal Comm’n and Dolan v. City of Tigard, emphasizing that permit conditions must both have an “essential nexus” to the government’s land-use interest and be “roughly proportional” to the impacts of the proposed development.

Impact and Precedent: The ruling underscores the necessity for governmental authorities, whether legislative or administrative, to adhere strictly to constitutional principles when imposing conditions on building permits. This decision is a significant affirmation of property rights, setting a precedent that both legislative and administrative exactions are subject to the same constitutional scrutiny.

This decision marks a critical juncture in property law, reaffirming the Supreme Court’s commitment to protecting individual property rights against overreach by local governments.

Supreme Court Decision: SHEETZ v. COUNTY OF EL DORADO

(Click below to view the entire decision)

Supreme Court Decision: SHEETZ v. COUNTY OF EL DORADO

St. Louis Metro’s Hottest School Districts: 5 of the Top 10 Located in St. Clair County, Illinois

As of 2023, according to data from the Missouri Department of Elementary and Secondary Education and the Illinois State Board of Education, there are roughly 135-145 school districts within the 17 counties of the St. Louis Metropolitan Statistical Area (MSA). This figure includes public school districts but excludes private and charter schools. These districts vary significantly in size, home prices, and demand for homes. While strong school districts and top-rated schools are major attractions for home buyers and may reflect in the prices homes fetch compared to those in lesser districts, they do not guarantee quick sales. However, it is logical to assume that the quality of schools can significantly influence demand in various subdivisions.

What are the fastest-selling school districts in the St. Louis metro area currently?

As of today, the list below, available exclusively from MORE, REALTORS®, indicates that the Windsor C-1 School District in Jefferson County is the fastest-selling, with homes staying on the market for an average of just 5 days. It is followed by Smithton DIST 130 in Illinois, with an average of 6 days on the market, and Sunrise R-IX in Jefferson County, taking third place with 7 days. St. Clair County in Illinois claims five of the top ten spots for the fastest-selling school districts, followed by Jefferson County with three. It should be noted that smaller school districts, with fewer homes on the market, may have an advantage over larger districts with more extensive inventory.

Top 10 Fastest Selling School Districts in the St Louis Metro Area

(click on list below for current, complete list)

Top 10 Fastest Selling School Districts in the St Louis Metro Area

St. Louis Home Sales Drop 25% in Latest 12-Month Review Compared to Previous Year

There were 31,960 homes sold in the St. Louis metro area during the 12-month period ending March 31, 2024, as the chart below from MORE, REALTORS® exclusively illustrates. This represents a 25% decline from the number of sales for the same period a year ago. While this is a slight increase from the 12-month sales low of 31,775 homes for the period ending December 31, 2023, it’s the lowest sales volume for this period since March 2015. Based on the chart, it appears that the trend of declining home sales has ended, as it has remained fairly flat over the last 8 months.

During the most recent 12-month period, homes in the St. Louis metro area sold for a median price of $170 per foot, marking an increase of about 7.5% from the same period a year ago.

St Louis MSA 12-Month Home Sales and Price Trend – Past 15 Years (Chart)

(click on chart for live, interactive chart)

St Louis MSA 12-Month Home Sales and Price Trend - Past 15 Years (Chart)