By Dennis Norman, on December 7th, 2024 
For St. Louis homeowners considering selling their homes, the 2024 National Association of Realtors Profile of Home Buyers and Sellers offers valuable insights into current trends. According to the report, the median time a home spends on the market remains a swift three weeks, with 49% of all homes selling within just two weeks. For sellers, this indicates that pricing your home competitively and working with an experienced agent can lead to quick and successful sales.
Additionally, the median sales price continues to align with the listing price, holding steady at 100% of the asking price. This consistency underscores the Continue Reading →
By Dennis Norman, on December 6th, 2024 
RealPage, Inc., a key provider of software solutions for rental property management, has filed a motion to dismiss the antitrust lawsuits brought against it by the U.S. Department of Justice (DOJ) and several states. These suits allege that RealPage’s revenue management software violates the Sherman Act by encouraging landlords to set higher rents. In its motion to dismiss, RealPage refutes these claims, arguing that its software operates within the bounds of the law and that plaintiffs fail to show sufficient evidence of harm or illegal coordination.
The crux of RealPage’s argument is that their software merely provides aggregated data and Continue Reading →
By Dennis Norman, on December 6th, 2024 
As of November 2024, the real estate market in Franklin County has seen a decrease in median sold price compared to the same time last year. According to data exclusively provided by MORE, REALTORS®, homes in the county sold for a median price of $237500, a 3.04% decrease from November 2023 when the median sold price was $244950.
This decrease in median sold price is also reflected in the month-over-month data, with a 6.31% decrease from October 2024 when the median sold price was $253499. The median list price for homes in Franklin County also saw a slight decrease of Continue Reading →
By Dennis Norman, on December 6th, 2024 
The National Association of Realtors’ 2024 Profile of Home Buyers and Sellers provides fascinating insights into the evolving preferences and demographics of today’s real estate market. As reflected in the charts below, buyers continue to seek homes and neighborhoods that align with their lifestyles and values, while trends in home size, type, and location highlight shifting priorities.
Key Highlights from the Report Family Dynamics in Home Purchases: The share of homebuyers without children under 18 in the home has risen significantly, reaching 73% in 2024, compared to just 41% in 1981. This trend underscores how demographic changes are shaping the Continue Reading →
By Dennis Norman, on December 5th, 2024 
The 2024 Profile of Home Buyers and Sellers, published by the National Association of Realtors (NAR), provides a detailed look at the trends shaping the real estate market. One of the most striking takeaways is the continued rise in the age of first-time home buyers. In 2024, the median age of first-time buyers is 38 years—a dramatic jump from 29 yearsin 1981. This increase reflects the growing challenges young buyers face, including rising home prices, student loan debt, and tighter lending standards. The chart below vividly illustrates this trend over the past four decades.
In contrast, repeat buyers now have Continue Reading →
By Dennis Norman, on December 5th, 2024 
As of November 2024, year-to-date (YTD) home sales in the St. Louis metro area reached 28,672, marking a slight decline compared to the 29,072 homes sold by this time last year. This represents a reduction of 400 homes sold year-over-year, a modest dip of approximately 1.37%.
While this year’s figures are down slightly, the broader picture of the St. Louis housing market remains resilient, even amidst shifting economic and market conditions. To put this in perspective, the YTD home sales in November 2024 are still significantly higher than in some prior years, particularly during market troughs like 2010.
For home Continue Reading →
By Dennis Norman, 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 →
By Dennis Norman, on November 28th, 2024 
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 →
By Dennis Norman, on November 27th, 2024 
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 →
By Dennis Norman, on November 26th, 2024 
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 →
By Dennis Norman, on November 25th, 2024 
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 →
By Dennis Norman, on November 21st, 2024 
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 →
By Dennis Norman, on November 19th, 2024 
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 →
By Dennis Norman, on November 19th, 2024 
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 →
By Dennis Norman, 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 →
By Dennis Norman, on November 15th, 2024
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 →
By Dennis Norman, on November 15th, 2024 
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 →
By Dennis Norman, on November 14th, 2024 
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 →
By Dennis Norman, 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 →
By Dennis Norman, on November 13th, 2024
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 →
By Dennis Norman, 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 →
By Dennis Norman, on November 11th, 2024 
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 →
By Dennis Norman, 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 →
By Dennis Norman, 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 →
By Dennis Norman, on November 7th, 2024 
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 →
By Dennis Norman, 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 →
By Dennis Norman, on November 5th, 2024 
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 →
By Dennis Norman, on October 30th, 2024
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 →
By Dennis Norman, on October 25th, 2024 
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 →
By Dennis Norman, on October 21st, 2024
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 →
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