Report Ranks St Louis Housing Market As 7th Worst Of Major Metros

St Louis Housing MarketThe St Louis Housing Market was delivered a blow by a Clear Capital report just released ranking the performance of the housing market in St Louis as the 7th worst of the major metro areas in the U.S.  According to the report, St Louis home prices dropped 0.3 percent in the past quarter and declined 1.0 percent from a year ago, that, coupled with the fact that REO’s (foreclosed property owned by banks) makes up 1/3 of the St Louis market, put us at 7th on the “bad” list.  At the top of the “good” list was Las Vegas with a 24.3 percent increase in home prices in the past year.

Other Report Highlights include:

  • National yearly gains notched up to 7.2%, a stark contrast to the -1.40% declines a year ago.
  • Quarterly prices for nation and region continue to stabilize at close of April 2013, a good position for the start of the spring buying season. In fact, quarterly rates of growth around 1% demonstrate the market is on track to hit annual forecasted gains. 4% national growth is in line with average historical rates of growth.
  • Regionally, markets continue to correct at a rate commensurate with their stages in the housing recovery.
    • Las Vegas saw impressive trends in April, with yearly growth accelerating to 24.3%, second to only Phoenix. Las Vegas is representative of a First In, First Out (FIFO) recovering market.
    • Phoenix, another FIFO market, saw a slight pull back in yearly gains to 25.8%, a signal to the start of more normal rates of growth.
    • Lowest performing markets, Birmingham, Detroit and Cleveland, struggle with low price points and short-term trend volatility. Their median price-per-square-foot (PPSF) is under $70, $40 lower than the national median PPSF average.
Highest Performing Major Metro Markets
Metropolitan Statistical Area Qtr/Qtr
% +/-
Yr/Yr REO Saturation
1 Las Vegas, NV – Paradise, NV 4.2% 24.3% 27.7%
2 Sacramento, CA – Arden, CA – Roseville, CA 3.7% 20.3% 20.0%
3 Phoenix, AZ – Mesa, AZ – Scottsdale, AZ 3.1% 25.8% 16.2%
4 Atlanta, GA – Sandy Springs, GA – Marietta, GA 3.1% 19.2% 33.1%
5 San Jose, CA – Sunnyvale, CA – Santa Clara, CA 2.9% 22.5% 8.7%
6 Chicago, IL – Naperville, IL – Joliet, IL 2.9% 9.4% 32.5%
7 San Francisco, CA – Oakland, CA – Fremont, CA 2.7% 20.2% 15.7%
8 Miami, FL – Ft. Lauderdale, FL – Miami Beach, FL 2.6% 16.9% 24.6%
9 Riverside, CA – San Bernardino, CA – Ontario, CA 2.5% 14.7% 24.2%
10 Los Angeles, CA – Long Beach, CA – Santa Ana, CA 2.5% 14.9% 16.4%
11 San Diego, CA – Carlsbad, CA – San Marcos, CA 2.5% 14.3% 16.0%
12 Orlando, FL 2.4% 12.6% 24.0%
13 Oxnard, CA – Thousand Oaks, CA – Ventura, CA 2.4% 11.7% 16.1%
14 Seattle, WA – Tacoma, WA – Bellevue, WA 2.3% 19.4% 13.4%
15 Bakersfield, CA 2.1% 14.7% 27.5%


Lowest Performing Major Metro Markets
Metropolitan Statistical Area Qtr/Qtr
% +/-
Yr/Yr REO Saturation
1 Birmingham, AL – Hoover, AL -3.0% 5.3% 27.0%
2 Detroit, MI – Warren, MI – Livonia, MI -2.5% 6.7% 48.6%
3 Cleveland, OH – Elyria, OH – Mentor, OH -2.1% -2.1% 39.5%
4 Milwaukee, WI – Waukesha, WI – West Allis, WI -1.5% 5.7% 20.5%
5 Charlotte, NC – Gastonia, NC – Concord, NC -0.5% -3.4% 28.8%
6 Nashville, TN – Davidson, TN – Murfreesboro, TN -0.5% 2.1% 21.3%
7 St. Louis, MO -0.3% -1.0% 33.0%
8 Raleigh, NC – Cary, NC 0.0% 3.5% 15.9%
9 Cincinnati, OH – Middletown, OH 0.2% 2.2% 26.7%
10 Rochester, NY 0.2% 1.8% 2.9%
11 Dallas, TX – Fort Worth, TX – Arlington, TX 0.3% 1.9% 22.2%
12 Dayton, OH 0.3% 3.0% 31.6%
13 New Orleans, LA – Metairie, LA – Kenner, LA 0.3% 2.9% 17.2%
14 Philadelphia, PA – Camden, NJ – Wilmington, DE 0.3% 0.6% 8.5%
15 Hartford, CT – West Hartford, CT – East Hartford, CT 0.4% 1.6% 7.9%

Source: Clear Capital – May 2013 Market Report

Print Friendly, PDF & Email

17 comments to Report Ranks St Louis Housing Market As 7th Worst Of Major Metros

  • … [Trackback]

    […] Read More Information here on that Topic: […]

  • … [Trackback]

    […] Info on that Topic: […]

  • … [Trackback]

    […] Read More Info here on that Topic: […]

  • Wow, this post is good, my sister is analyzing such things, so I am going to convey her.

  • Wow, marvelous weblog structure! How long have you ever been blogging for?

    you make running a blog glance easy. The total glance of your website is great, let alone
    the content!

  • I wish to show my passion for your generosity giving support to those individuals that actually need assistance with this concern. Your personal dedication to getting the message all through appeared to be wonderfully functional and has in every case made women just like me to get to their desired goals. Your new insightful key points implies a whole lot to me and somewhat more to my peers. Warm regards; from everyone of us.

  • After I originally commented I clicked the -Notify me when new feedback are added- checkbox and now every time a remark is added I get four emails with the identical comment. Is there any way you may take away me from that service? Thanks!

  • An impressive share, I just given this onto a colleague who was doing a little evaluation on this. And he in reality purchased me breakfast as a result of I found it for him.. smile. So let me reword that: Thnx for the treat! However yeah Thnkx for spending the time to debate this, I feel strongly about it and love studying more on this topic. If possible, as you become experience, would you mind updating your blog with extra details? It’s extremely useful for me. Massive thumb up for this weblog post!

  • … [Trackback]

    […] Read More Info here on that Topic: […]

  • Hi there mates, how is all, and what you wish for to say regarding this paragraph, in my view its actually awesome for me.

  • … [Trackback]

    […] Information to that Topic: […]

  • Cherish everything you have, but don’t give up to pursue what you want.

  • … [Trackback]

    […] Here you will find 6247 additional Info to that Topic: […]

  • No matter how far away in the future, you and me are on the way to grow up; no matter when we meet, we are always friends.

  • Let life be written, and always remember to ignite the warm sunshine of the soul. There are always some happy shots, hidden in the corner of memory, and gently lifted up inadvertently, shaking off a room of Xiao Se!

  • … [Trackback]

    […] Read More on to that Topic: […]

  • We were two small trees fighting side by side, we were two voices in a duet, and we were once alumni on a desk. Today, please accept my affectionate blessings.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>