Report says strong housing demand and lower inventories are sparking increased home prices

st-louis-realtor-dennis-norman-home-pricesIn a report released by Trulia, which looks at changes in asking prices on homes that are for sale as a leading indicator of where the market is headed, asking prices on homes for sale, on a year over year basis, were up 0.2 percent nationally.  Here in St. Louis, as the chart below shows, we can see that year–over-year asking prices in the St. Louis MSA are up almost 1 percent, or almost 5 times the national average but still far from the ten MSA’s in the U.S. with the highest price increases (see table below). 

st-louis-home-prices-year-over-year-dennis-norman-realtor

     -----------------------------------------------------------------
     Top 10 Metros With Largest Price Increases
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     #  U.S. Metro                      Y-o-Y % Change in Asking Price
     -----------------------------------------------------------------
     1  Miami, FL                                    16.1%
     -----------------------------------------------------------------
     2  Phoenix, AZ                                  15.8%
     -----------------------------------------------------------------
     3  Cape Coral-Fort Myers, FL                    14.1%
     -----------------------------------------------------------------
     4  Pittsburgh, PA                               8.5%
     -----------------------------------------------------------------
     5  West Palm Beach, FL                          7.4%
     -----------------------------------------------------------------
     6  Warren-Troy-Farmington Hills, MI             6.9%
     -----------------------------------------------------------------
     7  Orlando, FL                                  6.5%
     -----------------------------------------------------------------
     8  Denver, CO                                   6.3%
     -----------------------------------------------------------------
     9  Bethesda-Rockville-Frederick, MD             5.2%
     -----------------------------------------------------------------
     10 Little Rock, AR                              4.8%
     -----------------------------------------------------------------

Do you see the value of information such as this, particularly charts and data on what is happening in the St Louis real estate market?  Do you see the benefit of this information to you as a seller, buyer or investor?  This is just a small piece of what MORE, REALTORS has available and there is no where else in St. Louis where you will find this info and the experienced, knowledgeable brokers and agents to show you how to apply it to your situation.  To avoid making a bad move in this market, contact us and we’ll help you make a good move.

 

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