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St. Louis Real Estate: Inflation and Delinquency Trends Impacting Buyers and Sellers

By , on October 15th, 2024
The latest report from the Federal Reserve Bank of New York highlights some key shifts in consumer expectations that could impact the St. Louis real estate market. While inflation expectations remain stable at 3.0% for the next year, medium- and long-term expectations have ticked up slightly. This suggests that buyers and sellers in St. Louis may face rising costs in the coming years, particularly as home price growth expectations hover around 3.0%, showing little movement. The labor market offers some reassurance, with more people feeling confident about finding a job if they lose one, but the rising likelihood of missed debt payments—now at its highest level since April 2020—could be a warning sign for those on the edge of financial strain.

For homebuyers and sellers alike, this data underscores the importance of planning carefully in an uncertain environment. Buyers may need to navigate tighter credit markets, even though perceptions of credit access have improved slightly. Sellers, on the other hand, should remain vigilant about market shifts as inflation and debt issues weigh on consumer behavior. As noted in the survey, the average perceived probability of missing a debt payment in the next three months increased to 14.2%, which is especially concerning for mid-to-higher income households. This kind of financial pressure could lead to changes in demand and affordability in St. Louis.

At MORE, REALTORS®, our team is dedicated to helping you make informed decisions in any market condition. Whether you’re a buyer or seller, our expertise in the St. Louis real estate market ensures that you’ll have the guidance you need to navigate these uncertain times. Let us help you find the right path forward.

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