Dennis Norman - St Louis Real Estate News

St. Louis Foreclosure Activity Creeps Higher but Still a Fraction of What It Once Was

By Dennis Norman, on May 15th, 2025

According to ATTOM’s just-released April 2025 U.S. Foreclosure Market Report, foreclosure activity across the U.S. continues to rise gradually. A total of 36,033 properties had a foreclosure filing last month, which includes default notices, scheduled auctions, or bank repossessions. This marks a 0.4% increase from March and a 13.9% jump from April 2024. Rob Barber, CEO of ATTOM, commented that while foreclosure volume is still below historical norms, “the year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures.”

In the Midwest, Illinois stood out with one of the highest foreclosure rates in Continue Reading →

Wire Fraud Is Targeting Homebuyers and Sellers – And Most Don’t Even Know It’s Happening

By Dennis Norman, on May 14th, 2025

St Louis Real Estate Wire Fraud - 2025 Report

If you’re buying or selling a home in 2025, there’s a hidden threat you need to be aware of: wire fraud. According to the newly released State of Wire Fraud 2025 report by CertifID, 1 in 4 consumers reported receiving suspicious or fraudulent communication during their real estate transaction—and nearly 1 in 20 fell victim.

In 2024 alone, these scams resulted in nearly $500 million in losses. The method? Criminals impersonate trusted figures in the transaction—with real estate agents being the top target, mentioned by 58% of victims. Title agents were Continue Reading →

New Home Construction Slows in St. Louis—Five of Seven Counties See Double-Digit Drop in Permits

By Dennis Norman, on May 12th, 2025

In the 12-month period ending March 31, 2025, there were 3,492 permits issued for new single-family homes in the St. Louis area, a 16.55% decrease from the 4,070 permits issued during the prior year, according to the Home Builders Association of St. Louis & Eastern Missouri. Five of the seven counties in the report showed double-digit drops in new home permit activity. However, Franklin County and Warren County saw double-digit increases, indicating continued strong interest in those markets.

This data is one of the many reasons buyers and investors rely on the expertise and insights from MORE, REALTORS®

See Continue Reading →

Metro East Update: Real Estate Market Trends as of May 2025

By Dennis Norman, on May 9th, 2025

The Metro East real estate market has shown notable growth in April 2025, with the median home selling price reaching $193,000, a 5.46% increase from April 2024. This upward trend is also evident from the month-to-month comparison, where there was a 4.64% rise from March 2025’s median sold price of $184,450. While sales prices are climbing, the number of homes sold in April 2025 experienced a slight decrease, with 595 homes sold compared to 635 in the same month last year, reflecting a 6.30% drop.

The median list price for homes also saw an increase, reaching $192,500 in April 2025, Continue Reading →

St. Louis Mortgage Rates Update – May 2025: A Detailed Overview for Buyers and Sellers

By Dennis Norman, on May 8th, 2025

As we navigate the complexities of the St. Louis real estate market in May 2025, understanding the current mortgage rates is crucial for both potential home buyers and sellers. The latest data provided by MORE, REALTORS® indicates a slight decrease in interest rates, which could influence decision-making processes in the housing market. The 30-Year Fixed Rate now stands at 6.86%, showing a minor reduction of 0.02%. Similarly, the 15-Year Fixed Rate has also decreased by 0.02%, currently at 6.19%. These small changes suggest a relatively stable interest rate environment.

For those considering more substantial home purchases, the 30-Year Jumbo Rate Continue Reading →

St. Charles County Real Estate Market Sees Continued Growth in May 2025

By Dennis Norman, on May 8th, 2025

The real estate market in St. Charles County has demonstrated robust growth as of May 2025, with significant increases in both median sold and list prices compared to the previous year. In April 2025, homes in St. Charles County sold for a median price of $375,000, marking a 4.17% increase from April 2024, when the median sold price was $360,000. This figure also represents a 1.35% rise from March 2025, where the median sold price was $370,000.

The median list price in April 2025 reached $374,400, up by 6.97% from $350,000 in April 2024. Additionally, the number of home sales Continue Reading →

Is St. Louis Still Affordable? See How Missouri and Illinois Stack Up in New Housing Report

By Dennis Norman, on May 7th, 2025

According to a recent report by Realtor.com, Missouri and Illinois rank in the middle of the pack when it comes to home affordability, with Missouri landing at #22 and Illinois at #30 among all 50 states and the District of Columbia. While neither state earned a top grade, both remain relatively affordable compared to coastal and western markets. Missouri received a “C” grade with a REALTORS® Affordability Score of 0.82 and a median listing price of $298,696. Illinois, also graded “C”, had a slightly higher affordability score of 0.86, a median home price of $316,613, and a notably higher median Continue Reading →

Franklin County Real Estate Market Sees Price Increase in May 2025

By Dennis Norman, on May 6th, 2025

The Franklin County real estate market experienced a notable increase in home prices in April 2025, with the median sold price reaching $267,500. This reflects an 8.98% rise from April 2024, where the median price was $245,450, and a slight increase of 0.13% from March 2025. Meanwhile, the median list price also saw a growth, setting at $270,950 in April 2025, up by 9.03% from the previous year.

Despite the rise in prices, the number of homes sold in Franklin County decreased by 16.36% year-over-year, with 92 homes sold in April 2025 compared to 110 in the same month last Continue Reading →

St. Louis Sellers: Why MLS Listings Still Beat “Office Exclusive Listings” and Private Networks in 2025

By Dennis Norman, on May 6th, 2025

Why Private Listing Networks and Office Exclusive Listings are not as good as the MLS

The latest data is in, and it confirms what many of us in the real estate business have long suspected: properties listed on the MLS consistently outperform those kept in private listing networks or “office exclusives.” As the practice of marketing homes privately grows, the question is more important than ever for sellers and agents alike: what’s really the better move?

According to Bright MLS’s analysis of over 100,000 home sales across six states and D.C., office exclusives take 85% longer to go under contract compared to homes listed in the MLS. That’s a 37-day median versus just 20 days Continue Reading →

Court Blocks St. Louis Short-Term Rental Law, Halts All Permits and Fees

By Dennis Norman, on May 1st, 2025

Restraining order against City of St Louis on short term rental permits

On April 22, 2025, a court issued a temporary restraining order preventing the City of St. Louis from enforcing Ordinance 71729, which governs short-term rentals in the city. As a result, the city has paused all activity related to the permitting and regulation of short-term rentals, including accepting new applications, conducting inspections, issuing permits, and collecting associated fees. This pause also affects the recently passed Proposition S, halting the collection of the 3% fee approved by voters in November 2024.

While the legal dispute continues, short-term rentals can continue to operate in the City of St. Louis without permits as Continue Reading →

St. Louis Mortgage Rates in May 2025: A Comprehensive Overview

By Dennis Norman, on May 1st, 2025

As of May 2025, the St. Louis real estate market is experiencing a variety of mortgage rate options that cater to different types of buyers and refinancing needs. The 30-Year Fixed Rate remains steady at 6.81%, indicating a stable lending environment. On the other hand, the 15-Year Fixed Rate has seen a slight decrease to 6.15%, down by 0.02%, which might appeal to homeowners looking to refinance and pay off their loans faster.

For those considering larger, more expensive properties, the 30-Year Jumbo Rate is currently at 6.95%. This rate is slightly higher than the standard fixed rates, reflecting the Continue Reading →

St. Louis Condo Owners: Is Your Property at Risk from Unlicensed Managers?

By Dennis Norman, on April 28th, 2025

In Missouri, it’s an eye-opener that companies managing homeowners associations (HOAs), condominium associations, and subdivisions are not required to hold any type of state license—not even a real estate broker’s license. Yet, just across the river in Illinois, community association managers must be licensed under their Community Association Manager Licensing and Disciplinary Act. This gap in regulation here in Missouri leaves condo owners and homeowners vulnerable, particularly when it comes to the management of large associations that handle millions of dollars in dues and are responsible for common ground and major infrastructure like private streets and utilities.

Think about it: Continue Reading →

Rental Collections Improve Nationally—But Missouri and Illinois Fall Behind

By Dennis Norman, on April 27th, 2025

The latest Independent Landlord Rental Performance Report from Chandan Economics, covering April 2025, shows on-time rental payments nationally hitting 86.3% — an improvement of 45 basis points from the prior month, and notably the first year-over-year increase in on-time payments since July 2023. While this is encouraging news overall for small to medium landlords, the story for Missouri and Illinois isn’t quite as rosy when you dig into the state-level data.

Missouri posted an on-time payment rate of just 83%, putting us at 42nd out of the 47 states and districts that met reporting Continue Reading →

St. Louis Mortgage Rates Update for April 2025: Key Trends and Insights

By Dennis Norman, on April 24th, 2025

As of April 2025, the St. Louis real estate market is experiencing a shift in mortgage rates that potential home buyers and sellers should consider. The 30-Year Fixed Rate has climbed slightly to 6.95%, marking an increase of 0.10% from previous figures. Similarly, the 15-Year Fixed Rate has risen to 6.37%, up by 0.13%. These changes indicate a trend towards rising mortgage costs in the region, which could influence buying decisions and market dynamics.

For those considering more substantial home purchases, the 30-Year Jumbo Rate stands at 7.05%, while the 30-Year FHA Rate is notably lower at 6.42%. Additionally, the Continue Reading →

St. Louis City Real Estate Market Sees Price Increase in April 2025

By Dennis Norman, on April 21st, 2025

The St. Louis City real estate market demonstrated a robust increase in home prices during March 2025, according to the latest data. Homes sold for a median price of $220,000, marking a significant 4.76% rise from the previous year’s median of $210,000. This upward trend is further highlighted by a 10.03% increase from February 2025, where the median sold price was $199,950. Additionally, the median list price in March climbed to $222,450, up 11.23% from $200,000 in March 2024.

Despite the increase in prices, the number of home sales experienced a slight decline. There were 206 homes sold in March Continue Reading →

St. Louis County Real Estate Market Sees Significant Price Increase in April 2025

By Dennis Norman, on April 19th, 2025

The St. Louis County real estate market has experienced notable growth in property values, according to the latest data. In March 2025, homes in St. Louis County sold for a median price of $275,000, marking a substantial increase of 16.92% compared to March 2024, when the median sold price was $235,200. This rise also reflects a 10.00% increase from February 2025, which had a median sold price of $250,000.

Furthermore, the median list price for homes was $271,000 in March 2025, up by 17.88% from $229,900 in the same month the previous year. Despite these higher prices, the number of Continue Reading →

St. Louis Mortgage Rates Update: April 2025 Trends and Insights

By Dennis Norman, on April 17th, 2025

As of April 2025, the St. Louis real estate market is experiencing a dynamic shift in mortgage rates, crucial for both potential homebuyers and current homeowners considering refinancing. The 30-year fixed mortgage rate has seen a slight increase to 6.95%, up by 0.10% from the previous month. Similarly, the 15-year fixed rate has risen to 6.37%, marking a 0.13% increase. These changes reflect broader economic trends impacting borrowing costs.

For those looking at more substantial properties, the 30-year jumbo loan rate stands at 7.05%, slightly higher than conventional loan rates, indicating a premium for higher loan amounts. Conversely, more affordable Continue Reading →

St. Louis Metro Area Real Estate Trends: A Look at YTD Home Sales in 2025

By Dennis Norman, on April 17th, 2025

The St. Louis metropolitan area, spanning counties in both Missouri and Illinois, has experienced a slight shift in its real estate market this year. Through the end of March 2025, the region recorded 6,018 homes sold, marking a 6.25% decrease compared to the 6,419 homes sold during the same period in the previous year. This change reflects the dynamic nature of the local real estate market, which can fluctuate due to a variety of economic and environmental factors.

Despite the recent dip, the St. Louis real estate market continues to offer substantial opportunities for both buyers and sellers. Those interested Continue Reading →

Discover St. Louis’s Fastest Selling Zip Codes for Real Estate

By Dennis Norman, on April 16th, 2025

If you’re considering buying or selling property in the St. Louis metropolitan area, staying informed about the fastest moving markets is crucial. Leading the pack is zip code 63026 in Jefferson, St. Louis, MO, showcasing an impressive average market duration of just 16 days for its 12 active listings, with homes priced around $281,467 on average. Not far behind, zip code 63043 in St. Louis, MO, matches the 16-day market pace with 6 listings, demonstrating a high demand among potential homebuyers. Additionally, the 63038 area, also in St. Louis, MO, with its 6 listings, follows closely with homes averaging 17 Continue Reading →

Jefferson County Real Estate Market Update: April 2025 Insights

By Dennis Norman, on April 15th, 2025

The Jefferson County real estate market has experienced subtle shifts as of March 2025. Homes in the area sold for a median price of $255,300, marking a slight decrease of 0.27% compared to March 2024, when the median sale price was $256,000. This recent figure also represents a significant drop of 6.14% from February 2025, where the median sales price stood at $272,000. Despite the dip in sold prices, the median list price showed an upward trend, settling at $259,950, which is a 4.02% increase from the previous year’s $249,900.

In terms of sales volume, there were 186 homes sold Continue Reading →

More Renters Choosing to Stay Put for the Long Haul in 2025

By Dennis Norman, on April 14th, 2025

A recent survey from Knightvest Capital highlights a clear shift in the mindset of today’s renters—nearly half (48%) now view renting as a deliberate lifestyle choice rather than just a financial necessity. Even more telling, 42% of renters say they expect to remain tenants for five years or more. It’s a strong indication that the flexibility, lower maintenance, and built-in community aspects of renting are becoming more appealing—especially when compared to the demands of homeownership.

One of the more surprising takeaways from the report is that nearly a third (31%) of current renters previously owned a home. That tells Continue Reading →

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

By Dennis Norman, on April 13th, 2025

If you’re considering buying or selling a home in the St. Louis metropolitan area, understanding the local real estate dynamics can greatly influence your decision. The fastest selling school district currently is Pontiac-W Holliday DIST 105 in Fairview Heights, IL, showcasing an impressive average market time of just 5 days for its listings. With only 3 homes listed, and an average list price of $261,633, this district is a hotspot for rapid real estate transactions. Following closely is Richwoods R-VII in Missouri, where homes average just 6 days on the market, and Valley Park in Valley Park, MO, with homes Continue Reading →

Zillow’s New Listing Policy Raises Bigger Questions About Control and Competition

By Dennis Norman, on April 12th, 2025

Zillows listing policy vs Clear Cooperation, Compass, NAR and the consumer??

Zillow’s new policy, set to take effect in May 2025, takes a hard stance against listings that are marketed publicly without being listed on the MLS and displayed via MLS feeds. Zillow says it’s about fairness and protecting consumers. But is it? Or is it about consolidating control of listing visibility under the guise of transparency? And with Zillow now operating as a licensed brokerage—and a member of many MLSs—is this policy actually benefiting consumers, or simply solidifying Zillow’s role as a gatekeeper?

Zillow claims alignment with NAR’s Clear Cooperation Policy, but that claim Continue Reading →

Spring Surge: Contracts Soar as Buyers Snap Up St. Louis Homes

By Dennis Norman, on April 11th, 2025

St Louis Housing Market Snapshot March 2025 - St Louis Realtor

The St. Louis metro area housing market saw a meaningful uptick in activity this March, driven by rising inventory and strong buyer engagement. New listings rose 11% year-over-year, reaching 3,301 compared to 2,987 in March 2024. This increase was met with even more robust buyer response—newly accepted contracts surged by 26%, jumping from 3,503 to 4,424.

This demand-side strength is translating into higher prices. The median sold price over the past 12 months climbed 6.55% to $270,000. Even with slightly more inventory (a 1.5-month supply and 7,547 active listings), homes are still moving quickly, Continue Reading →

Mortgage Rates Rebound After Brief Dip—Here’s What It Means for St. Louis Buyers

By Dennis Norman, on April 10th, 2025

Mortgage interest rates have bounced back after briefly dipping earlier this month, but there’s more to the story—especially for St. Louis home buyers. One key factor keeping rates from climbing even higher? The recent postponement of tariffs, which has helped ease economic pressure and may be keeping mortgage rates from surging faster.

As of today, the average rate for a 30-year fixed-rate conventional loan is around 6.95%, with FHA loans at 6.42% and VA loans at 6.45%. These numbers reflect an uptick from the recent low of about 6.40% on April 4th, but still sit below the 7.16% average we Continue Reading →

What’s Happening in Washington Could Impact Your Next Move in St. Louis

By Dennis Norman, on April 9th, 2025

If you’re a homebuyer or seller in the St. Louis area, heads up—there’s something going on in Washington that may affect your next move in a bigger way than you think.

The Department of Justice just appointed Roger Alford to a top antitrust role. He’s not a household name, but he’s someone who’s been deep in the fight over real estate commissions and how homes get marketed. He played a key role in the massive $1.8 billion verdict in the Sitzer/Burnett case here in Missouri—where a jury said real estate commissions were being artificially inflated by the industry.

So what’s Continue Reading →

April 2025 Metro East Real Estate Market Update: Insights into Home Prices and Sales Trends

By Dennis Norman, on April 9th, 2025

The Metro East real estate market has shown subtle yet noteworthy changes as of March 2025. The median sold price for homes reached $184,450, a slight increase of 0.24% from March 2024’s median of $184,000. This also marks a more significant rise of 2.47% compared to February 2025, where the median sold price was $180,000. On the other hand, the median list price in March 2025 edged up to $185,000, reflecting a marginal growth of 0.05% from the previous year.

However, the volume of home sales experienced a downturn, with 530 homes sold in March 2025, down by 9.86% from Continue Reading →

St. Louis Mortgage Rates Update: April 2025 Trends and Insights

By Dennis Norman, on April 9th, 2025

As of April 2025, the St. Louis real estate market is witnessing subtle shifts in mortgage rates, critical for both potential home buyers and current homeowners considering refinancing. The 30-year fixed mortgage rate has seen a slight increase to 6.85%, a change of +0.03% from the previous figure. Similarly, the 15-year fixed rate has adjusted upward by +0.04%, now standing at 6.24%. These changes indicate a modest tightening in borrowing costs, which could influence buyer affordability and market dynamics in the St. Louis area.

For those looking at more substantial home purchases, the 30-year jumbo loan rate remains steady at Continue Reading →

St. Louis MSA Real Estate Market Sees Price Increase in March 2025

By Dennis Norman, on April 8th, 2025

The St. Louis Metropolitan Statistical Area (MSA) real estate market demonstrated notable growth in property values in March 2025. Homes sold for a median price of $265,500, marking a significant 6.20% increase from the previous year’s median of $250,000. This price point also reflects a consistent rise from February 2025, which saw the median sold price at the same level, indicating a stable upward trend in housing prices.

While home prices surged, the total number of home sales exhibited a slight decline. In March 2025, there were 2,347 homes sold, down 7.27% from the 2,531 transactions recorded in March 2024. Continue Reading →

St. Charles County Real Estate Market Update: April 2025 Insights

By Dennis Norman, on April 8th, 2025

The St. Charles County real estate market has experienced subtle shifts in pricing and activity as of March 2025. Homes in the area sold for a median price of $370,000, reflecting a slight decrease of 0.24% compared to March 2024, when the median sold price was $370,900. However, this price represents an increase of 1.71% from February 2025, where the median sold price stood at $363,779. The median list price also saw an upward trend, settling at $369,700 in March 2025, marking a 1.29% increase from the previous year’s $365,000.

In terms of sales volume, there were 342 home sales Continue Reading →