St Louis home prices declined more in past year than national average

Dennis Norman
Dennis Norman

According to a report issued by First American CoreLogic national home price declines continue to improve citing that national housing prices fell 7.8 percent in June 2009 compared to June 2008 representing the small est year-over-year decline recorded to date in 2009.  This was a 0.7 percent improvement over Mays decline of 8.5% from the prior year.

firstamerican corelogic
St. Louis did not fare quite as well in the CoreLogic report.  The report shows St Louis home prices decreased 11.34% in June, 2009 compared to June 2008 and, opposite the national trend, represented a 1.43% larger decline than Mays decline of 9.91 percent from the prior year.
CoreLogic’s approach to obtaining pricing data is excellent in my opinion.  Instead of just basing their data on median home prices they look at “repeat sales” and, according to information provided by the company, more than 30 years worth of repeat sales transactions, representing more than 45 million observations.  Nonetheless, I went ahead and did some of my own research to see if it supported the CoreLogic report.
To do this, I pulled information from Maris, the company which provides MLS data to REALTORS(R) throughout the St. Louis metropolitan area.  I looked at the median sales price (I know, I already said this wasn’t the best approach, but it’s the best I’ve got) of homes sold in May and June of this year and compared to the same periods for last year.  I just looked at St. Louis City and County, although the CoreLogic report probably takes in a little larger area, and here is what I found:
  • Median price of homes sold in June 2009 – $152,250
  • Median price homes sold June 2008 – $169,900
    • Drop in price 10.3 percent
  • Median price of homes sold in May 2009 – $135,000
  • Median price of homes sold in June 2009 – $150,000
    • Drop in price 10.0 percent

So my numbers are pretty close to those of CoreLogic and, as I stated, I believe their method of looking at resale prices for the same house, is a much more accurate approach so I’m thinking what they published is reality.

St. Louis tends to lag behind the country frequently when it comes to market trends so hopefully we will see improvement in St Louis home prices declines soon.

Print Friendly, PDF & Email

31 comments to St Louis home prices declined more in past year than national average

  • … [Trackback]

    […] Find More Info here on that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • … [Trackback]

    […] Information to that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • … [Trackback]

    […] Here you can find 42917 additional Information on that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • … [Trackback]

    […] Read More Information here on that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • … [Trackback]

    […] Read More to that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • … [Trackback]

    […] Find More Info here on that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • Have you ever thought about adding a little bit more than just your articles?
    I mean, what you say is fundamental and all. But think of if you added some great images or video clips to give
    your posts more, “pop”! Your content is excellent but
    with images and video clips, this website could
    undeniably be one of the best in its niche. Terrific blog!

  • Hi would you mind letting me know which hosting company you’re utilizing?
    I’ve loaded your blog in 3 completely different web browsers and I must say
    this blog loads a lot faster then most. Can you suggest a good web hosting
    provider at a fair price? Thanks a lot, I appreciate it!

  • I do consider all the ideas you’ve presented on your post.

    They are very convincing and can definitely work.
    Nonetheless, the posts are very brief for starters.
    May just you please prolong them a little from subsequent time?
    Thank you for the post.

  • I am really glad to read this webpage posts which includes
    plenty of helpful data, thanks for providing these kinds of
    information.

  • I was more than happy to find this website.
    I need to to thank you for your time due to this wonderful read!!
    I definitely savored every little bit of it and I have you
    book-marked to see new information on your blog.

  • I love what you guys tend to be up too. This type of clever work and reporting!
    Keep up the superb works guys I’ve added you guys to my own blogroll.

  • I’m curious to find out what blog system you are using? I’m having
    some small security problems with my latest blog and I’d like to find
    something more safe. Do you have any suggestions?

  • I do not even know how I ended up here, but I thought this post was good.
    I don’t know who you are but certainly you’re
    going to a famous blogger if you aren’t already ;) Cheers!

  • It is in reality a nice and useful piece of info.

    I am happy that you shared this helpful information with
    us. Please keep us up to date like this. Thanks for sharing.

  • Hello there! Do you use Twitter? I’d like to follow you if that would be okay.

    I’m absolutely enjoying your blog and look forward to
    new updates.

  • If some one wishes expert view regarding running a blog afterward i recommend him/her
    to pay a quick visit this website, Keep up the good work.

  • Hello to every body, it’s my first pay a quick visit of this website;
    this webpage includes remarkable and really fine data designed for readers.

  • This post is worth everyone’s attention. When can I find out more?

  • My coder is trying to persuade me to move to .net from PHP.
    I have always disliked the idea because of the expenses.

    But he’s tryiong none the less. I’ve been using WordPress on several websites for about
    a year and am concerned about switching to another platform.
    I have heard very good things about blogengine.net. Is there a way I can import all my wordpress posts into it?
    Any help would be really appreciated!

  • I don’t know whether it’s just me or if perhaps everyone else encountering issues with your website.
    It looks like some of the text on your content are running off the screen.
    Can someone else please comment and let me know if this is happening
    to them as well? This may be a problem with my internet browser because I’ve had this happen previously.
    Appreciate it

  • Heya i’m for the first time here. I found this board and I find It really useful & it helped me out
    much. I hope to give something back and aid others like you helped me.

  • Hello, I read your blog on a regular basis. Your writing style is awesome, keep doing what you’re doing!

  • … [Trackback]

    […] Info on that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • Everyone loves what you guys tend to be up too. This sort of clever
    work and exposure! Keep up the superb works guys
    I’ve added you guys to my blogroll.

  • hey there and thank you for your information – I have certainly
    picked up anything new from right here. I did
    however expertise a few technical points using this
    web site, as I experienced to reload the web site
    a lot of times previous to I could get it to load correctly.

    I had been wondering if your hosting is OK? Not that I am complaining, but sluggish loading
    instances times will often affect your placement in google and could damage your high quality score if ads and marketing with Adwords.
    Well I’m adding this RSS to my email and can look out for a lot
    more of your respective intriguing content. Make sure you update this again very soon.

  • … [Trackback]

    […] Find More Information here to that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • hello there and thank you for your information – I
    have certainly picked up something new from right
    here. I did however expertise some technical points using this site, since I experienced to reload the
    web site a lot of times previous to I could get it to load properly.
    I had been wondering if your web hosting is
    OK? Not that I am complaining, but slow loading instances times will
    often affect your placement in google and can damage your high quality score if ads and marketing with
    Adwords. Anyway I’m adding this RSS to my email and could look out for a lot more of your respective exciting content.
    Ensure that you update this again soon.

  • … [Trackback]

    […] Information to that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • … [Trackback]

    […] Information to that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

  • … [Trackback]

    […] Read More on that Topic: stlouisrealestatenews.com/real-estate-market/st-louis-home-prices-declined-more-in-past-year-than-national-average/ […]

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>