St Louis Inventory of Homes For Sale Drying Up In Many Areas

The inventory of homes for sale in several St Louis neighborhoods is down to the lowest level we have seen in years.  It would be great if that was the result of skyrocketing home sales however, it’s really a combination of home sales and a lack of sellers.  While there are many different reasons people are not choosing to sell right now, I believe it is a lack of equity that is  holding back many homeowners from selling, particularly in the lower price ranges.  Last month I did an article about the fact that 40 percent of St Louis homeowners in the bottom 1/4 of the market were underwater, and, overall, 44% of St Louis homeowners had too little equity to sell their homes, hence the lack of inventory.

As the table below shows, the top 3 St Louis neighborhoods all have just a 1 month inventory of homes for sale, and the rest of the areas making up the top ten list just have 2 months.  For homeowners in these areas that have thought about selling, and have the equity to do so, now would be the time to hit the market!

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St Louis Inventory of Homes For Sale

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