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 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 →
By Dennis Norman, on October 15th, 2024 
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 →
By Dennis Norman, 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 →
By Dennis Norman, on September 27th, 2024 
The National Association of Realtors’ (NAR) Clear Cooperation Policy has been a contentious topic since its inception in 2019. The rule, which mandates that listings must be added to the MLS within one day of being publicly marketed, aims to provide transparency and equal access to all agents and homebuyers. However, as highlighted in anInman News article today, the policy is now facing strong opposition from major real estate firms like Compass and Anywhere Real Estate, both of which are calling for changes that would provide more flexibility to sellers.
This isn’t the first time the Clear Cooperation Policy has Continue Reading →
By Dennis Norman, on September 24th, 2024 
There was an opinion piece published today on Inman News by Eric Bramlett that suggests that fears of a widespread shift in commission payments from sellers to buyers are overblown. Bramlett argues, “Sellers are primarily concerned with the net proceeds they’ll receive and the overall terms of the contract.” While I agree that many sellers will still “pay” the buyer’s agent commission, I don’t believe the traditional commission structure will endure. In fact, the St. Louis Association of REALTORS® is in the process of updating the forms that most of the St Louis area REALTORS®, including listing agreement. In this Continue Reading →
By Dennis Norman, on September 15th, 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 zip codes for quick home sales are 63043, 63126, and 63040. These areas are seeing homes fly off the market in an average of just 21-24 days, making them hot spots for both buyers and sellers.
In 63043, the fastest selling zip code, there are currently 9 active listings with an average list price of $268,656. The second and third fastest selling Continue Reading →
By Dennis Norman, on September 12th, 2024
Attention all home buyers and sellers in the St. Louis metropolitan area! Are you looking to make a move and want to know which school districts are the hottest on the market? Look no further, because we have the data for you.
According to recent statistics, the top three fastest selling school districts in the St. Louis metro area are Franklin Co. R-II in None, MO, Lonedell R-XIV in None, MO, and East Alton-Wood River DIST 14 in , IL. These districts have an average of only 13 days on the market, making them highly desirable for families looking Continue Reading →
By Dennis Norman, on September 4th, 2024 
In a newly released report by the Center for Demographics and Policy at Chapman University, St. Louis has been ranked the third most affordable housing market in the world for 2024. The Demographia International Housing Affordability report highlights that St. Louis continues to offer buyers some of the best value when it comes to housing, beating out major cities across the U.S. and globally.
For homebuyers in St. Louis, this is exciting news. While inflation and rising costs are still on the minds of many, the fact that the metro area remains such an affordable place to own a home Continue Reading →
By Dennis Norman, on September 4th, 2024 
As housing costs rise in St. Louis, many are worried about the price of owning or renting a home. However, a recent Gallup poll reveals that 41% of Americans now rank inflation and the high cost of living as their top financial concern, far outpacing housing costs, which are the main issue for 14%. A Gallup spokesperson noted, “For the third year in a row, the percentage of Americans naming inflation or the high cost of living as the most important financial problem facing their family has reached a new high.”
Despite these concerns, the St. Louis metro area remains Continue Reading →
By Dennis Norman, on September 3rd, 2024 
Buying a condominium in the St. Louis metro area offers a unique lifestyle, but it’s important to understand that the process, and ownership structure, is different from purchasing a single-family home. Condominiums come with their own set of challenges and risks, especially in today’s market. If you’re considering buying a condo, here’s what you need to know to protect yourself and make a sound investment.
Understanding the Challenges
Buying a home comes with its own set of challenges and risks, which is why most people choose to work with a buyer’s agent. It’s crucial to use an agent with the Continue Reading →
By Dennis Norman, on August 30th, 2024 
Recent changes in the real estate industry have left many home buyers wondering if they need to sign an agreement before visiting an open house. The confusion stems from new practices that have emerged as a result of recent legal settlements affecting how agents work with buyers. The good news? If you’re just visiting an open house on your own, you don’t need to sign any kind of written agreement. The agent hosting the open house is there to represent the seller, not to bind you into a contract.
However, if you decide to work with an agent—meaning they start Continue Reading →
By Dennis Norman, on August 23rd, 2024 
The latest Chandan Economics report reveals a worrying trend for landlords in Missouri, where only 83.1% of tenants made their rental payments on time in August 2024. This figure is slightly below the national average of 84.9%, indicating that Missouri is feeling the strain more acutely. The state’s on-time payment rate reflects a broader decline seen across the country, with national rates dropping 50 basis points from July and 332 basis points from their post-pandemic peak.
For a more granular look at these trends, explore the live, interactive chart that tracks on-time payment rates by property type. This tool is Continue Reading →
By Dennis Norman, on August 20th, 2024 
The real estate industry is undergoing significant changes, especially concerning how commissions are handled between sellers and buyers’ agents. Recent legal settlements have led to new transparency rules, which clarify that sellers are not required to pay the commission for the buyer’s agent. This has raised concerns among potential homebuyers about the financial burden of paying their agent directly. However, these changes don’t necessarily mean you’ll be paying more out of pocket.
Understanding the Changes:
No Increase in Home Prices: The overall cost of homes hasn’t increased simply because of these rule changes. Home values remain the same. In fact, Continue Reading →
By Dennis Norman, on August 15th, 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 latest data on the fastest selling zip codes in the region. According to recent statistics, the top three zip codes with the shortest time on the market are 62215 in Clinton-IL, IL, 62047 in Calhoun-IL, IL, and 63055 in Franklin, MO. These zip codes have an average of only 18 days on the market, making them highly desirable for both buyers and sellers.
In 62215, homes are selling at lightning speed with an average of just Continue Reading →
By Dennis Norman, on August 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, Signal Hill DIST 181 in Illinois takes the top spot with an average of just 19 days on the market for its 5 active listings. With an average list price of $2,611,780, this district is clearly in high demand.
Coming in at a close second is East Alton-Wood River DIST 14, also in Illinois, with an average of 21 days on the market for its Continue Reading →
By Dennis Norman, on August 8th, 2024 
forAs a homeowner in the St. Louis metro area considering selling your property, one of the most pressing questions in the current real estate landscape is whether you should offer compensation to a buyer’s agent upfront. This question has gained significant importance due to the recent shifts in industry norms, especially following the National Association of Realtors (NAR) settlement of the Sitzer lawsuit and subsequent MLS rule changes. The outcome of these changes has dramatically altered how real estate transactions are approached, and it’s crucial to understand their implications on your selling strategy.
The Sitzer lawsuit settlement has made it Continue Reading →
By Dennis Norman, on August 5th, 2024
?agent_id=02107As of the end of July 2024, the St. Louis metro area has recorded 17,801 homes sold. This marks a slight increase from the same period last year, which saw 17,683 homes sold. Despite this year-over-year growth, the current sales figure represents a 7.6% decline from the median year-to-date home sales of 19,267 homes recorded between 1999 and 2020. Furthermore, when compared to the average year-to-date home sales of 18,855 homes from 1999 through 2024, this year’s performance is still trailing by approximately 5.6%. These statistics underscore a complex landscape for the St. Louis real estate market, balancing modest recent Continue Reading →
By Dennis Norman, on July 30th, 2024 
The latest homeownership rates released by the U.S. Census Bureau illustrate a stable housing market across various regions, with the Midwest continuing to lead in homeownership. The Midwest, where St. Louis is a prominent hub, saw a slight decrease from 70.2% in the second quarter of 2023 to 69.9% in the second quarter of 2024. This marginal decline still places the Midwest at the highest homeownership rate among all regions, underscoring the area’s enduring appeal and stability. As St. Louis continues to develop and attract new residents, the robust homeownership rate in the Midwest highlights the region’s Continue Reading →
By Dennis Norman, on July 30th, 2024
The latest rental vacancy rates released by the U.S. Census Bureau highlight a significant shift in the housing market dynamics across various regions. Here in the Midwest, we experienced a noteworthy decline in vacancy rates, dropping from 6.9% in the second quarter of 2023 to 5.5% in the second quarter of 2024. This decrease suggests a tightening rental market in the Midwest, contrasting with the national trend where the overall vacancy rate slightly increased. As the Midwest continues to attract more residents and stabilize its housing market, St. Louis stands to benefit from this positive momentum.
The rental vacancy rates Continue Reading →
By Dennis Norman, on July 29th, 2024 
In a recent deep dive into the world of “office exclusive” listings, we uncovered some surprising trends within the St. Louis metropolitan area. Our previous analysis revealed that 22.6% of listings in St. Charles County and 28.8% in St. Louis County were classified as “office exclusive”, sparking a conversation about who truly benefits from these types of listings.
Unveiling St. Louis MSA Stats
MARIS, the regional MLS, holds the key to the actual number of office exclusive listings, a piece of data that remains hidden from public view and member brokers alike. However, through meticulous data compilation over the Continue Reading →
By Dennis Norman, on July 25th, 2024
In today’s competitive real estate market, “office exclusive” listings have become a notable, and at times, rather heated, topic of discussion among agents. Recently, we took a closer look at the prevalence of these listings in St Charles County and St Louis County, Missouri. Our findings, illustrated in the chart below, reveal that 22.6% of listings in St Charles County and 28.8% in St Louis County are “office exclusive” listings.
Understanding Office Exclusive Listings
According to MLS rules, office exclusive listings cannot be advertised or listed on the MLS. This means they are not visible on the thousands of real Continue Reading →
By Dennis Norman, on July 21st, 2024 
Nestled in the western suburbs of St. Louis, Wildwood, MO, is a thriving community known for its picturesque landscapes, top-rated schools, and a blend of suburban and rural charm. Established in 1995, Wildwood offers residents a high quality of life with its extensive parks, trails, and outdoor activities, making it a sought-after location for families and outdoor enthusiasts alike.
Popular Communities in Wildwood High School Areas Lafayette High School Area Real Estate Search Eureka High School Area Real Estate Search Marquette High School Area Real Estate Search Rockwood Summit High School Area Real Estate Search Middle School Areas Wildwood Middle Continue Reading →
By Dennis Norman, on July 16th, 2024 
President Biden has announced a plan to cap rent increases at 5% per year for corporate landlords with more than 50 units. This initiative is part of a broader strategy to lower housing costs and address the housing shortage. The plan also includes repurposing public land for affordable housing and rehabilitating distressed properties. The Biden administration emphasizes that these actions will help protect tenants from excessive rent hikes and promote the development of new affordable housing units.
However, the National Association of Home Builders (NAHB) has expressed significant concerns about this proposal. Carl Harris, chairman of the NAHB, argues that Continue Reading →
By Dennis Norman, on July 15th, 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 latest data on the fastest selling zip codes. According to recent statistics, the top three zip codes with the shortest average days on the market are 62084 in Madison-IL, IL, 63146 in St. Louis, MO, and 63034 in St. Louis, MO. This means that homes in these areas are in high demand and selling quickly, making them ideal locations for both buyers and sellers.
In 62084, the average listing stays on the market for just 11 Continue Reading →
By Dennis Norman, on July 12th, 2024 
Are you looking to buy or sell a home in the St. Louis metropolitan area? If so, it’s important to know which school districts are experiencing the fastest home sales. According to recent data, the top three fastest selling school districts in the area are Wolf Branch DIST 113, Lebanon CUSD 9, and HILLSBORO DIST 3.
With an average of only 4 days on the market, Wolf Branch DIST 113 in Illinois takes the top spot. This district boasts 7 active listings with an average list price of $284,357. Coming in at second place is Lebanon CUSD 9 with an Continue Reading →
By Dennis Norman, on July 5th, 2024 
Starting August 17, 2024, the National Association of REALTORS® (NAR) is implementing a new requirement on its members that will impact home buyers and REALTORS® alike. This new rule mandates that REALTORS® must have a written agreement with buyers before showing them any homes. This change is required as part of the settlement agreement of multiple massive class-action lawsuits where NAR was accused of anti-competitive practices. The settlement aimed to increase transparency and fairness in real estate transactions, ensuring that both buyers and agents have a clear understanding of their relationship and obligations. However, there’s a lot of confusion Continue Reading →
By Dennis Norman, on July 4th, 2024 
As we celebrate Independence Day, we not only honor the birth of our nation but also reflect on the freedoms and opportunities that make America unique. For the real estate market, these principles of independence and liberty are deeply ingrained. Homeownership is often seen as a cornerstone of the American Dream, representing stability, investment in the future, and personal freedom. This day serves as a reminder of the importance of owning a piece of this great land and the value it brings to families and communities.
The significance of Independence Day extends to the real estate industry by highlighting the Continue Reading →
By Dennis Norman, on June 27th, 2024 
A recent flash poll by T3 Sixty at the NAR Midyear Conference highlights significant dissatisfaction among real estate professionals regarding the National Association of REALTORS® (NAR) and its handling of the ongoing commission lawsuit. View the entire report and survey results below.disa
Key Findings: Approval of NAR’s Performance: Only 30% of respondents approve of NAR’s overall performance. A striking 63% disapprove, indicating widespread dissatisfaction. Handling of Compensation Lawsuits: Just 32% approve of NAR’s legal strategies. A majority of 62% disapprove, showing deep concerns about the settlement’s impact.
At MORE Realtors, we understand the confusion and concerns surrounding these changes. Our Continue Reading →
By Dennis Norman, on June 18th, 2024 
According to the latest data from the Fannie Mae Home Purchase Sentiment Index, shown below, a mere 14% of consumers currently believe it’s a good time to buy a home. This starkly contrasts with the increasing sentiment that it’s a bad time to buy, which has surged to nearly 80%. Over the past decade, the confidence in the housing market has drastically shifted, with a significant decline in the optimism seen in previous years. The reasons behind this sentiment could range from rising mortgage rates to economic uncertainties.
At MORE, REALTORS®St, we closely monitor market trends and data like the Continue Reading →
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