Home prices increased during the 2nd quarter of 2013, on a year-over-year basis, in 87 percent of the metro areas in the U.S. according to data released today by the National Association of REALTORS (NAR). Home prices increased in the U.S., from a median of $181,300 in the 2nd quarter of 2012, 12.2 percent to $203,500 in the 2nd quarter of 2013, according to NAR. (For complete NAR Report click here)
Locally, the St. Louis MSA saw a modest increase of 1.5 percent from $134,600 to $136,600 during the same period. Drilling down though to the 5 county core market for St Louis that I like to look at (City of St Louis and Counties of St Louis, St Charles, Jefferson and Franklin) we see much better results. For the St Louis core market, median home prices increased from $132,000 in June 2012 to $147,500 in June 2013 (see chart below) for an increase of 11.7 percent, almost the same as the national increase.
Source: MORE, REALTORS – Based on information from Mid America Regional Information Systems, Inc., for the period June 2012 through June 2013
Leave a Reply
You must be logged in to post a comment.