St Louis Home Affordability Drops Dramatically From Year Ago

St Louis home affordability has fallen significantly in the past year as a result of increasing home prices as well as rising interest rates, according to a report by MORE, REALTORS.  As the table below shows, the hardest hit area was the city of St. Louis where a house payment on a median priced home has increased 50% from the 4th quarter of 2012 to the 4th quarter of 2013.   Jefferson county and St Charles county, with the lowest increases in home prices (2% and 7% respectively) had the least amount of damage done to home affordability.

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St Louis Home Affordability - 2012 - 2013

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