St. Louis Home Prices Increase

Dennis Norman

According to a report issued today by CoreLogic, their home price index shows home prices in the U.S. increased in May, marking the fourth-consecutive month there was a year-over-year increase in home prices. U.S. home prices in May 2010 increased by 2.9 percent over May 2009.

St. Louis home prices did better than the U.S. average, increasing by 3.49 percent in May 2010 compared with May 2009.

No doubt some of the good news was the result of buyers rushing to buy a home before the April 30th deadline to receive tax credits.  This will affect the market, and home prices, in a positive manner until these “tax-credit-induced” sales close by the recently extended deadline of September 30, 2010.



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