St Louis’ Top Ten Neighborhoods For Home Price Reductions

Almost 3 out of every 4 homes currently listed for sale in St Ann have had a price reduction in the past 90 days, according to the latest data from MORE, REALTORS.   As the table below shows, all the St Louis neighborhoods that made the top ten list for home price reductions have had price reductions on more than half of the current listings of homes for sale in that neighborhood.

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Economists Predict Home Price Appreciation for 2013 to Top 6 Percent On National Level

Home Price Appreciation for 2013

Home Price Appreciation for 2013 is expected to be 6.75 percent (year-over-year from 2012), according to  the average estimate of a panel of 106 economists surveyed by Pulsenomics.  Interesting enough, though the economists had varying opinions, not one panelist project a decrease in home prices for 2013, in fact the lowest estimation of home price increase for 2013 was 1.69 percent and at the other end of the spectrum, the highest projection was 15 percent.

Also worth noting from the survey was the fact that 88 percent of the economists on the panel did not feel that recent increases in mortgage interest rates posed a “significant threat to the ongoing housing market recovery” however, it was noted that if interest rates hit 6 percent that could be a “show stopper” for the housing recovery.

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To see the complete survey results, including individual forecasts by the 106 panelists, click here.