St Louis home prices are at the bottom; projected to increase….slowly….

saint-louis-real-estate-dennis-normanSt. Louis home prices, after falling about 2.4 percent from the 1st quarter of 2011 to the 1st quarter of 2012,  are projected to remain flat from the beginning of this year through the 1st quarter of 2013, according to a report released this week by FISERV.  Historically, home prices remaining flat would not be good, but after what we have been through, with St Louis home prices falling 16.7 percent from their peak at the beginning of 2007 to their current level, flat is good.  The report projects that, after this flat spell, Saint Louis  home prices will increase 2.1 percent by the 1st quarter of 2014 and continue to increase an additional 2.1 percent over the ensuing 3 years bringing the total increase in Saint Louis home prices to 4.2 percent over the 5-year period from the 1st quarter of 2012 through the 1st quarter of 2017.

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