A new national survey of experienced real estate agents sheds light on what’s really happening in the market—and what it means for St. Louis buyers, sellers, and investors. According to the data, affordability remains the single biggest concern agents face when looking ahead. Nearly two-thirds (64.2%) say it’s the top challenge over the next five years. With elevated interest rates and prices still outpacing income growth, the path to homeownership is tougher than ever for many buyers.
But it’s not just affordability. Inventory shortages remain a pain point, with 42.8% of agents citing low housing supply as a major issue. This lines up with what we’ve seen in the St. Louis metro area—fewer listings, faster sales, and buyers still competing over move-in ready homes. At the same time, about half of agents surveyed believe that both home sales and prices will rise in 2025. That optimism, while cautious, shows confidence that demand is still there—and that conditions may improve slightly as rates stabilize and more sellers re-enter the market.
Investors and current homeowners should also take note of a few emerging trends. Agents report a steady increase in insurance-related issues during transactions, particularly in high-risk states, and there’s a growing belief (39%) that climate change is influencing where buyers choose to live. While Missouri isn’t on the front lines of hurricanes or wildfires, shifting weather patterns and rising insurance costs could start playing a bigger role locally. Bottom line: Buyers and investors would do well to look beyond the price tag—digging into carrying costs, long-term risk factors, and neighborhood stability is more important than ever. The findings are based on a national survey of agents conducted by Redfin between December 2024 and January 2025.