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St Louis Home Prices Forecasted To Fall By Summer

Saint Louis Realtor, Dennis Normanst-louis-real-estate-realtor-dennis-normanWhile it does appear the St Louis real estate market has hit bottom and begun to slowly make some headway to a recovery it is clearly not going to be without some bumps in the road along the way.  One of those bumps appears to be home prices as, according to a report just released by Fiserv indicates, St Louis home prices are projected to fall 2.7 percent by next summer. 

As the table below shows, St Louis home prices fell 6.4 percent from the 2nd quarter of 2009 to the 2nd quarter of 2012 and, during the last year of that period actually increased by 4.6 percent.  If the forecast is correct and St Louis home prices do fall another 2.7 percent, we will end up seeing a total drop in home prices of just over 9 percent in the four year period.

Metro Area

 

 

 

Population
(2011)

 

 

Change in

Home Prices
(2009:Q2

to 2012:Q2)

Change in

 Home Prices
(2011:Q2

to 2012:Q2)

 Forecast Change

 in Home Prices
(2012:Q2

to 2013:Q2)

United States

311,591,917

-0.5%

1.2%

0.3%

Austin, TX

1,783,519

0.0%

2.6%

0.9%

Baltimore, MD

2,729,110

-4.9%

0.2%

-1.6%

Columbus, OH

1,858,464

-0.3%

-0.8%

-0.2%

Fort Worth, TX

2,180,758

-3.8%

1.0%

-0.3%

Indianapolis, IN

1,778,568

-3.5%

0.3%

-1.1%

Jacksonville, FL

1,360,251

-10.2%

1.3%

-3.7%

Kansas City, MO

2,052,676

-8.6%

-1.9%

-1.5%

Louisville, KY

1,294,849

-2.9%

0.5%

-2.0%

Milwaukee, WI

1,562,216

-6.4%

-2.2%

-1.4%

Nashville, TN

1,617,142

-1.5%

2.3%

0.7%

New Orleans, LA

1,191,089

-4.1%

1.9%

-0.8%

Orlando, FL

2,171,360

-6.6%

3.8%

-6.9%

Philadelphia, PA

4,030,926

-5.2%

-0.4%

-0.9%

Raleigh, NC

1,163,515

-7.7%

-1.8%

-1.5%

Sacramento, CA

2,176,235

-6.1%

2.1%

-2.6%

Salt Lake City, UT

1,145,905

-11.5%

1.0%

3.7%

San Antonio, TX

2,194,927

-0.8%

1.7%

0.6%

San Jose, CA

1,865,450

20.8%

9.0%

-5.9%

St. Louis, MO

2,842,155

-6.4%

4.6%

-2.7%

Tucson, AZ

989,569

-15.2%

0.5%

-2.5%

 

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