St Louis Home Sales YTD On Pace With Last Year In Spite of COVID-19

Through the end of April, there have been 7,146 homes sold in the St Louis 5-County Core Market, nearly exactly the same as last year when there were 7,153 homes sold. In spite of the challenges caused by Covid-19, including the stay at home orders, over the past 7 weeks, the residential real estate market has managed to fare ok.

The trend is not looking so good though…

One thing to keep in mind is the date I just referenced is somewhat a historical look at the market since we are talking about closings of sales and not new sales.  For example, many of the closings that took place in April were likely sales that took place prior to when the “COVID-19 effect” started in St Louis, which was around March 10th.

The darker green line on the chart below reflects the home sales trend for the St Louis market, with each data point reflecting the prior 12-months home sales.  You will notice the trend line takes a significant drop in April.  If you look at last year, the trend line took a dip in April as well but had declined the month before also.  As I’ve reported over the past few weeks, new sales, while they have made a significant recovery, have been down as much as 35% or so from last year, so we’re likely to see the trend remain downward at least in the short term.

St Louis 5-County Core Market YTD Home Sales and Home Sales Trend For Past 25-Months

(Click on chart for live, interactive chart)
St Louis 5-County Core Market YTD Home Sales and Home Sales Trend For Past 25-Months

 

 

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