Number of St Louis Distressed Home Sales Declined Over 90 Percent In Past 10 Years

There were a total of 550 home sales in the St Louis 5-County core market during the 12-month period ended August 31, 2021, a decline of over 90 percent  (90.5%) from the same period 10 years earlier.  As the chart below (available exclusively from MORE, REALTORS®) illustrates, the St Louis distressed home sales 12-month trend peaked in May 2013 with 6,078 distressed home sales in the prior 12-month period and has fallen to just 550 distressed home sales for the 12-month period ended August 31, 2021.  For the purposes of this report, distressed home sales include the sale of homes previously foreclosed on and being sold by banks or a government entity (such as FHA/VA) and short sales.  Given that there has been a foreclosure moratorium in place for several months during the past year it’s not surprising the current trend is down but as the chart shows, the trend has been steadily downward since late 2013.

  

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