St Louis Real Estate News - Page 36 of 107 - Daily St. Louis real estate news, market analysis, home prices, and mortgage rate updates from local industry professionals.

St Louis Area Buyer’s Markets – Town and Country Near Top Of List

By Dennis Norman, on November 20th, 2019

As the table below shows, from MORE, REALTORS® exclusive STL Market Report, the overall St Louis MSA housing market has a current supply of homes for sale equal to just a little over two-and-a-half months making it very much favor sellers. The St Louis 5-County Core market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) have, as the second table shows, an even lower supply of homes for sale with a 2.32 month supply.

However, as the list at the bottom shows, there are some municipalities within the St Louis area that are buyers Continue Reading →

Mortgage Delinquency Rates Hit 14-Year Low In August

By Dennis Norman, on November 19th, 2019

In August, the overall mortgage delinquency rate (30 or more days past due) was 3.7% for the U.S. which is a 0.2 percentage point decline from a year ago and is the lowest overall delinquency rate in 14-years, according to date just released by CoreLogic. The delinquency rate for August of 3.7% marks the lowest delinquency rate during the month of August in 20 years. The serious delinquency rate (120+ days late) decline of 1.2% a year ago to just 1.0% in August 2019, nearly a record low. The Foreclosure Rate fell in August 2019 to 0.4% from 0.5% a Continue Reading →

St Louis Home Sales Trending Upward Slightly

By Dennis Norman, on November 14th, 2019

After peaking in May 2018 with 27,829 homes sold in the prior 12-months, the St Louis home sales trend has trended downward until hitting 26,852 homes sold in the 12-month period ended August 31, 2019. However, for the two months since this low, St Louis home sales have trended upward slightly, reaching 26,888 homes sold in the 12-month period ended October 31, 2019.

Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES St Louis 5-County Core Market Home Sales Trend – Past 5 Years

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Foreclosures Spike In October In Some St Louis Areas

By Dennis Norman, on November 14th, 2019

The foreclosure rate for the St Louis MSA during October increased 11.3 percent from the month before however, it was still nearly 25 percent (24.5%) lower than October 2018, according to data just released from ATTOM Data Solutions. As the table below shows, there were some real mixed results this month. For example, St Charles County saw a 150% increase in foreclosures from the month before increasing from 10 in September to 25 in October but is down over 60% from October 2018. The city of St Louis is the only county of significant size in the St Louis MSA Continue Reading →

REALTORS® Adopt New MLS Rule Aimed To Eliminate “Off-MLS” Listings

By Dennis Norman, on November 12th, 2019

Yesterday, the board of directors for the National Association of REALTORS® (NAR) approved a new policy dubbed the “Clear Cooperation Policy” which goes into effect January 1, 2020, and Multiple Listing Service’s (MLS) have until May 1, 2020, to adopt and implement.

While the vote by the board of directors, 729 in favor of it to 70 opposed, may not reflect it, there is a lot of controversy about this policy among real estate agents and brokers that are members of NAR. The two main changes this new policy bring about are that agents would be mandated to put, for Continue Reading →

St Louis Real Estate Market Update VIDEO – November 2019 – Low-Interest Rates And Consistent Sales Trends

By Dennis Norman, on November 11th, 2019

The St Louis real estate market trends remain steady and consistent! The St Louis home sales and price trends give me an optimistic outlook for next year. Low-interest rates continue to offset some of the cost of the increases in home prices that have occurred. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video.

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The Percentage Of Underwater Homeowners In St Louis Drops To Lowest Level In Six Years

By Dennis Norman, on November 9th, 2019

During the third quarter of 2019, 10.5% of the homeowners in St Louis with a mortgage, were underwater on their mortgage, meaning they were in a negative-equity position, according to data just released by ATTOM Data Research. As the table below shows, this is the lowest level of St Louis homeowners that are seriously underwater since 2013 when this data was first tracked.

Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES St Louis Underwater (Negative-Equity) Homeowners – 2013-2019

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Percentage of Equity-Rich Homeowners In St Louis Hits Record High

By Dennis Norman, on November 8th, 2019

As of the end of the third quarter of this year, 18.2% of the homeowners in St Louis were “equity-rich”, meaning their mortgage total is less than 50% of their homes’ current value, according to the latest data available from ATTOM Data Research. As the table below shows, this is the highest rate of equity-rich homeowners in St Louis since ATTOM began tracking this data in 2013.

Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES Equity-Rich St Louis Homeowners – 3rd Quarter 2019

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Actual “Cost” Of St Louis Home Today Over 7 Percent Lower Than Year Ago

By Dennis Norman, on November 3rd, 2019

Thanks to a strong economy and low-interest rates, the actual cost of a home today in St Louis is lower than it was a year ago, in spite of the fact that the median price of homes sold in St Louis has increased by 5.64% in the past year. Most people buying a typical home in St Louis finance nearly all of the purchase price, therefore, the cost of financing plays a significant role in the true cost of a home. Buyers decide what they can afford (as do lenders) based upon the house payment, not the price of the Continue Reading →

St Louis Homeowner Vacancy Rate Hits Highest Level Since 2016

By Dennis Norman, on November 2nd, 2019

The St Louis MSA homeowner vacancy rate during the 3rd quarter of this year was 1.8%, an increase from 0.3% the prior quarter and the highest rate since the 4th quarter of 2016 when the rate was 3.0%, according to data recently released by the U.S. Census Bureau. The median vacancy rate for 2019 though, at 0.5%, is still at a record low.

The homeowner vacancy rate represents the percentage of total listings of homes for sale that are vacant.

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St Louis Homeowner Vacancy Rates – 2016 – Present

(click on table for complete data Continue Reading →

St Louis Rental Vacancy Rates Hit Highest Level In Over Three Years

By Dennis Norman, on November 1st, 2019

The St Louis MSA rental vacancy rate during the 3rd quarter of this year was 10.6%, an increase from 7.6% the prior quarter and the highest rate since the 1st quarter of 2016 when the rate was 12.2%, according to data recently released by the U.S. Census Bureau. Last year, the median rental vacancy rate for the St Louis MSA for the year was 6.8%, a 13 year low.

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St Louis Rental Vacancy Rates – 2016 – Present

(click on table for complete data from 2005 – present)

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St Louis Has 13th Highest Homeownership Rate of Metro Areas In U.S.

By Dennis Norman, on October 30th, 2019

During the 3rd quarter of this year, the homeownership rate for the St Louis MSA was 69.5% giving St Louis the 13th highest homeownership rate of the 75 largest MSA’s in the country, according to the latest date from the U.S. Census Bureau. St Louis continues to improve in the homeownership rankings, moving from 26th in the 1st quarter, to 21st in the 2nd quarter and now to the 13th highest homeownership rate in the U.S.!

As the table below shows, the North Port-Bradenton-Sarasota MSA had the highest homeownership rate during the quarter at 76.7% and for the 3rd quarter Continue Reading →

63304 Is St Charles County’s Fastest Selling Zip Code

By Dennis Norman, on October 28th, 2019

Homes in the 63304 Zip Code area of St Charles Cunty sold faster in the past 30 days than in any other zip code in St Charles County, according to the latest data available from MORE, REALTORS®. Homes that closed in the past 30 days in 63304 took an average time of just 23 days to sell.

As the list below shows, the 63776 and 63368 zip code areas weren’t far behind. The slowest-selling St Charles County zip code in the past 30 days was the 63367 zip code area where th average time to sell a home was more Continue Reading →

Top Ten Cities In St Louis MSA Where Homes Sold The Fastest

By Dennis Norman, on October 27th, 2019

Homes in Rock Hill sold faster in the past 30 days than in any other city in the St Louis MSA, according to the latest data available from MORE, REALTORS®. Homes that closed in the past 30 days in Rock Hill took an average time of just 12 days to sell.

As the list below shows, 6 of the 10 fastest-sold cities in the St Louis MSA were in St Louis County, 3 in St Charles County and 1 in Jefferson County.

Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES Fastest SOLD Cities In Continue Reading →

Jefferson County Home Prices Increase Nearly 7 Percent In Past Year

By Dennis Norman, on October 25th, 2019

The median price of homes sold in Jefferson County during the past 12-months was $179,900, an increase of 6.83% from the prior 12-month period when the median price was $168,400. As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined slightly (1%) during the same period and the inventory remains low with a listing supply of just 2.74 months.

As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in Jefferson County have had the normal, seasonal, fluctuations but have been steadily trending upward over Continue Reading →

St Louis County Home Sales Trend Down From A Year Ago But Remains Steady

By Dennis Norman, on October 25th, 2019

There were 13,181 homes sold in St Louis County in the 12-month period ending September 30, 2019, a decline of 3.2% from a year ago when there were 13,618 homes sold in the prior 12-months. For September, the home sale trend ticked upward slightly and has been fairly steady the prior 4 months.

Prices on the rise and inventory is low in St Louis County..

As the STL Market Report for St Louis County below the chart shows, there is just a 2.45 month supply of homes for sale in St Louis County and the median price of homes sold Continue Reading →

St Charles County Home Prices Increase By Over 6 Percent In Past Year

By Dennis Norman, on October 24th, 2019

The median price of homes sold in St Charles County during the past 12-months was $243,900, an increase of 6.09% from the prior 12-month period when the median price was $229,900. As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined over 5 percent during the same period and the inventory remains low with a listing supply of just 2.37 months.

As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in St Charles County have had the normal, seasonal, fluctuations but have been steadily Continue Reading →

Jefferson County Home Sales Trend Holds Steady

By Dennis Norman, on October 24th, 2019

There were 3,379 homes sold in Jefferson County in the 12-month period ending September 30, 2019, a very slight decline of about 1% from a year ago when there were 3,413 homes sold in the prior 12-months. For the past three months, the 12-month home sales trend in Jefferson County has been amazingly consistent, with data for July and September being identical and August being off by just 1 home sale.

Prices on the rise and inventory is low in Jefferson County..

As the STL Market Report for Jefferson County below the chart shows, there is just a 2.75 month Continue Reading →

St Louis Area Home Price Appreciation Tops 5 Percent In Past Year

By Dennis Norman, on October 23rd, 2019

The median price of homes sold in the St Louis 5-County Core Market during the past 12-months was $205,000, an increase of 5.13% from the prior 12-month period when the median price was $195,000. As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined nearly 3 percent during the same period and the inventory remains low with a listing supply of just 2.53 months.

As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in the St Louis 5-County Core Market have had the normal, Continue Reading →

St Charles County Home Sales Trend Falls Back To Early 2016 Levels

By Dennis Norman, on October 23rd, 2019

There were 5,755 homes sold in St Charles County in the 12-month period ending September 30, 2019, a decline of 5.2% from a year ago when there were 6,070 homes sold in the prior 12-months. This is the lowest 12-month trend since February 2016 when there were 5,676 homes sold in the prior 12-months.

As the chart below illustrates, even with the declining trend in home sales in St Charles County, it is still significantly higher than back in 2014 and 2015.

Lack of listings in St Charles could be part of the problem…

As the STL Market Report for Continue Reading →

Downward Trend In New Home Construction In St Louis Eases In September

By Dennis Norman, on October 22nd, 2019

New home construction in St. Louis continued its decline, although at a lower rate, with 4,286 new home permits issued for the 12-month period ended September 30, 2019, a decline of 8.05% from a year ago when there were 4,661 permits issued, according to the latest data from the Home Builders Association of St. Louis & Eastern Missouri. This is an improvement from the 12-month period ended August 31, 2019, when the decline was nearly 10% from the year before (9.74%).

As the table below shows, 4 of the 7 counties covered in the report saw a decline in new Continue Reading →

St Louis Real Estate Market Update VIDEO – October 2019 – Interest Rates Offsetting Price Increases

By Dennis Norman, on October 19th, 2019

The St Louis real estate market is slowing down somewhat as it does every year around this time, but the market still looks good. Low-interest rates continue to offset some of the cost of the increases in home prices that have occurred. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video.

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St Louis Foreclosures Decline In Third Quarter Over 27 Percent From Year Ago

By Dennis Norman, on October 18th, 2019

The St Louis foreclosure rate during the 3rd quarter of this year was 1 in every 766 housing units, a decline of nearly 1% from the prior quarter and a decline of over 27% from a year ago, according to data just released from ATTOM Data Solutions. As the table below shows, 6 of the counties in the St Louis MSA saw an increase in the foreclosure rate during the 3rd quarter from the prior quarter and only two counties saw an increase from a year ago.

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St Louis MSA Foreclosures – 3rd Quarter 2019

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St Louis Is Number One Market For Flipping Homes

By Dennis Norman, on October 15th, 2019

St Louis is the top marketing for flipping homes, according to an article published yesterday on Realtor.com. It’s not all just flipping activity however in the article a very notable and credible St Louis industry source (unabashed self-promotion) stated that “flipping is more common in homes in the $175,000-plus range, while many of those listed for $125,000 and less are being turned into rentals, says Norman.”

The Realtor.com article gave an overview of the market data I produced for them so I wanted to share the market data behind the overview.

St Louis Neighborhoods With Large Investor Presence:

63137 Zip Continue Reading →

St Louis Home Sales Continue Downward Trend

By Dennis Norman, on October 11th, 2019

Home sales in the St Louis 5-County Core Market for the 12-month period ended September 30th, 2019 were down just over 3% from the same period a year ago. During the same period, home prices in the St Louis 5-County Core market increased a little over 5% as the report below from MORE, REALTORS shows.

Inventory of homes for sale still favors sellers…

As the report shows, there is just a 2.44 month supply of homes for sale in the St Louis core market which means the St Louis market is still very much a seller’s market.

Search St Continue Reading →

1-Story Homes In St Charles County Appreciated More Than 2-Story Homes In Past 10 Years

By Dennis Norman, on October 7th, 2019

One story homes, often referred to as “ranch-style”, have always been popular, especially with ageing home buyers that don’t want stairs. With a large number of baby boomers that have become empty nesters, many of them are downsizing and one-story homes are often their style of choice as well. Whether this demand is the reason or not, one-story homes in St Charles County have outpaced 2-story homes in terms of home price appreciation over the past 10-years.

As the charts below show, one-story homes in St Charles County show, have increased in price from a median sold price of $116 Continue Reading →

St Louis Home Sales Trend In September Down 3 Percent From Year Ago

By Dennis Norman, on October 5th, 2019

For the 12-month period ended September 30, 2019, there were 26,775 homes sold in the St Louis 5-County core market, down 3.2% from the same period a year ago, according to the latest data from MORE, REALTORS. As the chart below illustrates, home sales in St Louis have, for the most part, been trending downward since peaking in May 2018 with 27,830 homes sold in the 12-month period ending that month.

Search St Louis Homes For Sale Search St Louis Upcoming OPEN HOUSES St Louis Home Sales Trend – Past 5 Years

(click chart for live Continue Reading →

REALTORS® Association Considers New Rule Requiring All Listings Be In MLS

By Dennis Norman, on October 3rd, 2019

The MLS Technology and Emerging Issues Advisory Board, of the National Association of REALTORS® (NAR), proposed a rule change that is sparking some controversy among its’ members. The proposed “Clear Cooperation Policy” requires that all listings be put in the MLS within 24 hours of “marketing a property to the public“. The policy defines “public marketing” as including, but not limited to, “flyers displayed in windows, yard signs, digital marketing on public-facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public”.

But, isn’t that how Continue Reading →

What Impact Does The School District Have On Home Prices and Sales?

By Dennis Norman, on September 27th, 2019

The question in my headline is one of those questions that in the real estate community, and with most homeowners, would elicit a response something like “the quality of the school district has a major impact on the housing market, duh!”. While I don’t think anyone would argue that having quality public education available to everyone in all areas is important, I’m just talking data here and looking at it from the real estate perspective. So, with that in mind, I decided to use one of the reports produced by proprietary software created by MORE, REALTORS® and based upon MLS Continue Reading →

New Home Construction Down From A Year Ago In 5 of 7 St Louis Area Counties

By Dennis Norman, on September 26th, 2019

New home construction in St. Louis continues to decline with 4,244 new home permits issued in August 2019 for the St Louis area, a decline of 9.74% from a year ago when there were 4,702 permits issued, according to the latest data from the Home Builders Association of St. Louis & Eastern Missouri.

As the table below shows, 5 of the 7 counties covered in the report saw a decline in new home permits from a year ago. Franklin County has suffered the biggest loss at 44.13% and Warren County has seen the largest increase at 15.57%.

Search St Continue Reading →