St. Louis Home Prices Fall in August in Contrast to U.S. Home Prices That Increased

By Dennis Norman, on October 25th, 2011

St. Louis home prices decreased 4.3 percent in August from the month before and were down less than one percent from a year ago. The median home price in August 2011 in the five-county core of the St. Louis market (St Louis City & County, St. Charles, Jefferson & Franklin Counties) was $134,000. This put’s St. Louis home price performance below the Case-Shiller home prices announced this morning for the 20 largest metro’s in the U.S. (St. Louis is not included) which showed a 0.2 percent increase from the month before but ahead of the 3.8 percent decrease in U.S. home prices from a year ago.

The chart below shows that St. Louis home prices continue to try to find the “bottom” and are bouncing around that level. While the median price may fall slightly more in the coming year, I would think, absent something terrible happening in the economy, we have seen the worst of the price declines.