There have been a fair number of reports about the increase in distressed home sales in various markets around the country and on the national level. However, in St Louis, distressed home sales are on the rise, they are still at levels that are historically quite low.
Distressed home sales that involve some sort of distress or other condition that would typically result in the home not selling for a normal “retail” price like it would if it were a typical listing in market ready condition with normal marketing time allowed. The chart below shows distressed home sales in the St Lous 5-County core market over the past years and also shows the 12-month sales trend. For our purposes, we include probate sales, short-sales, foreclosures, and bank and government owned homes as distressed sales. As the chart illustrates, the 12-month sales trend has increased for 5 consecutive months but is still at a level that is significantly lower than it has been for the bulk of the 5-year period illustrated on the chart.
St Louis 5-County Core Market Distressed Home Sale and 12-Month Trend for Past 5 Years
(click on chart for live, interactive chart with the latest data)
