Below is a video update on the St. Louis Real Estate Market that I prepare monthly. In this video I do a quick recap of the news in the St Louis real estate market for the month as well as an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here. Continue Reading →
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St. Louis home prices, after falling about 2.4 percent from the 1st quarter of 2011 to the 1st quarter of 2012, are projected to remain flat from the beginning of this year through the 1st quarter of 2013, according to a report released this week by FISERV. Historically, home prices remaining flat would not be good, but after what we have been through, with St Louis home prices falling 16.7 percent from their peak at the beginning of 2007 to their current level, flat is good. Continue Reading → St. Louis home prices in the 2nd quarter were at $134,700 for a median priced home according to the latest data from the National Association of REALTORS® making St. Louis 46th in terms of the lowest home prices of the 161 metro areas covered by the NAR report. Another NAR report shows the typical income needed to buy a median priced home and, based upon St. Louis’ median home price, the report shows that, with a down payment of just 5 percent, an income of about $29,601 per year would be necessary to buy a typical home in St. Louis. Continue Reading → St. Louis sellers and listing agents are showing some modest confidence in the St Louis real estate market as indicated by the increases in the asking prices of homes for sale in St. Louis. According to data from the St. Louis Home Team, asking prices in the St. Louis metro area rose just a tad (0.3 percent) in August from the month before and were up 2.4 percent from a year ago. Continue Reading → St. Louis home prices are significantly outperforming other metro markets as evidenced by today’s release of the the S&P/Case-Shiller Index report for May 2012 which showed both the 10-city and 20-city composites, increased by 2.2 percent from the month before while St Louis home prices (see chart below) increased 9.6 percent from the month before. On a year-over-year basis, both the 10-city and 20-city composites saw declines, 1.0 percent and 0.7 percent respectively while St. Louis home prices in May increased 3.4 percent from the year before. Continue Reading → St Louis home prices have not hit bottom yet, according to a report just released this morning by Zillow, which shows that St. Louis home prices fell by 4.0 percent in the second quarter of 2012 from the year before. St Louis home prices are predicted by Zillow to fall another 2.6 percent in the coming year. Continue Reading → Yesterday’s existing home sales report from the National Association of REALTORS® shows existing home sales in June were at at a seasonally adjusted-annual rate of 4.37 million units which is a decrease of 5.4 percent from the month before, and a 4.5 percent increase from the year before and is at the lowest level since October 2011. Continue Reading → More good news on the real estate market arrived this morning in the S&P/Experian report on credit defaults which revealed that mortgage default rates on first mortgages fell to 1.41 percent in June bringing it to it’s lowest level since May 2007. This is significant as this is the “leading indicator” for foreclosures which have hammered home prices for the past 5 years plus this represents a significant decline from when the mortgage default rate peaked at 5.67 percent in May 2009. Continue Reading → This week Clear Capital® released its Home Data Index™ (HDI) Market Report with data through June 2012 which showed home prices in the U.S. grew both on a quarterly and yearly basis 1.7 percent from the prior period. This report shows further support for a housing price recovery, which is very good news! Continue Reading → Below is a video update on the St. Louis Real Estate Market that I prepare monthly. In this video I do a quick recap of the news in the St Louis real estate market for the month as well as an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here. Continue Reading → According to a report just released by Lender Processing Services, the foreclosure inventory in the U.S. remains near all-time highs, with 4.12 percent of all active mortgages in the foreclosure pipeline in addition to the 3.2 percent that are 90 days or more delinquent but have not yet begun the foreclosure process. Continue Reading → According to the National Association of Home Builders/First American Improving Markets Index (IMI) that was just released, there are 84 cities in the U.S. where the housing markets are improving as of July, which is an increase from 80 cities the month before. The cities in the report are from 32 states. Continue Reading → A report just released by Trulia today which is based on the for-sale homes and rentals listed on Trulia, shows that asking prices for Saint Louis homes for sale decreased 2.4 percent from a year ago however Saint Louis rental rates increased 3.2 percent during the same period. Continue Reading → A report released today by CoreLogic, one of the nations leading providers of property information, shows that U.S. home prices increased in May by 2.0percent from the year before and increased by 1.8 percent from the month before marking the third-consecutive month U.S. home prices have increased on both a year-over-year as well as month-over-month basis. St. Louis home prices, on the other hand, moved opposite the U.S. trend with St. Louis home prices decreasing in May by 2.2 percent from the year before and St. Louis home prices in May decreased 1.7 percent from April, according to the report. Continue Reading → A survey conducted by Zillow compiled from 114 responses by a diverse group of economists, real estate experts and market strategists, reveals that economists expect home prices to decline only slightly in 2012 (0.4 percent for the year) and then be on the rise. According to Zillow, this is the first time the individual economists surveyed were largely in agreement on where U.S. home prices are headed, signaling that a true bottom may be imminent. Continue Reading → Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for May 2012 showing an increase of 7.6 percent from the month before, and an increase of 19.8 percent from a year ago. The seasonally-adjusted new home sales rate for May was 369,000 homes, up from a revised rate of 343,000 homes the month before. The supply of new homes on the market decreased to a 4.7 month supply from a revised 5.0 months the month before. The median new home price decreased slightly to $234,500 from a revised median price of $236,000 the month before and increased 5.6 percent from a year ago when the median new home price was $222,000. Continue Reading → Lately the $64 question for many people is whether to rent or buy a home. I think by now everyone knows that, as a result of the collapse in home prices and dirt-cheap interest rates, buying a home is now more affordable than ever, but for a lot of people there are still doubts or concerns that need to be addressed before making the decision whether or not to buy. Many of these issues stem around financing including; how much down payment will be necessary, what can I afford, etc. The American’s Banker Association (ABA)came out with five questions every potential buyer should ask when deciding to buy or rent a home that, along with the helpful online calculators they offer, I think may be very helpful: Continue Reading → The mortgage delinquency rate (the percentage of home loans 30 or more days past due) increased in May 1.1 percent from the month before according to the latest “First Watch Report” from Lenders Processing Services (LPS). While it’s a modest increase, this marks the second consecutive month we’ve seen an increase in mortgage delinquency rates reversing the downward trend for the 9 months prior which is not good. Since delinquent mortgages are the precursor to forelcosures and foreclosures have wreaked havoc on home prices, this is something we definitely want to keep an eye on. Yesterday’s existing home sales report from the National Association of REALTORS® shows existing home sales in May were at at a seasonally adjusted-annual rate of 4.55 million units which is a decrease of 1.5 percent from the month before, however, here in the Midwest we bucked the trend coming in with home sales at an annual rate of 1.04 million units, up 1.0 percent from the month before. The Midwest was the only region in May that saw an increase in the rate of home sales in May from the month before, all regions saw an increase from a year ago however. Home prices in the Midwest didn’t fare as well as the rest of the country however, coming in at 147,700 which is an increase of 6.4 percent from a year ago, less than the 7.9 percent increase seen at the national level, however the month over month increase of 5.6 percent in the Midwest did top the 5.1 percent month over month increase at the national level. Continue Reading → According to a report just released by S&P Experian, the first mortgage default rate fell by more than a quarter of a percent (26 basis points) in May compared to April and is the lowest rate since May 2007. The second mortgage rate also fell during the month, by 5 basis points, and is at a seven year low. Mortgage defaults and delinquencies are the pre-cursor to foreclosures and foreclosures are the enemy of home prices so this is good news and a trend that, if it continues, should point the way to a housing recovery. According to a report released by Realtor.com, the inventory of homes, condominiums, townhouses and co-ops for sale in St. Louis dropped by almost 20 percent (19.79%) in May 2012 compared to a year ago Continue Reading → Yesterday, CoreLogic released their shadow inventory report which showed that the current residential shadow inventory (as of April 2012) had fallen to 1.5 million units, representing a supply of four months which is a 14.8 percent decline from a year ago when shadow inventory stood at 1.8 million units, or a six-months’ supply. Continue Reading → Below is a video update on the St. Louis Real Estate Market that I prepare monthly. In this video I do a quick recap of the news in the St Louis real estate market for the month as well as an overview of the St Louis housing market itself. The update includes charts with up to the date data on the St Louis housing market including St Louis home prices, average time to sell a home in the St Louis area as well as other data and charts to show where the St Louis real estate market is and where it is headed. (Check out all our market update videos on our YouTube Channel – click here. Continue Reading → Are you ready to tackle that bathroom renovation you’ve been putting off? Before you pick up the phone and hire a contractor, why not save some cash and try your hand at it. Considering the cost of renovations for homeowners, DIY has gained popularity. The following list, created by Construction Management Degree.com, contains 100 of the top DIY websites to help guide your home improvement projects, in no particular order. We arrived at this list through our own research, and for the benefit of our readers. The list is organized by area of the home including; General Remodeling, Interior Decorating, Kitchen and Bathroom, Office and Workspaces, Landscaping and Exterior, Basement, Storage, and Closets. Continue Reading → This week Clear Capital® released its Home Data Index™ (HDI) Market Report with data through May 2012 which showed home prices in the U.S. grew both on a quarterly and yearly basis for the first time since August 2010. At the regional level home prices improved on a quarterly and yearly basis as well in all regions except for the Midwest which saw declines in home prices but not as large of declines as in the previous month. Continue Reading → My family is definitely a beach-loving family! Most of the trips and vacations our family has been on over the years have included beaches and both of our children’s first trips as infants were to the beach. So, I guess it is safe to say our family loves beaches and we are not alone! Even though beach property has suffered during the real estate bust, there seems to always be demand for homes in beach communities. Some areas, like Sarasota, Florida, are already seeing prices increase on homes located on or near the beach. Did you wait too late to buy that second home or vacation home in a beach community? Well, according to a report just released by RealtyTrac, there are still some bargains to be found out there! Continue Reading → CoreLogic released its April Home Price Index (HPI) report showing home prices nationwide, including distressed sales, increased on a year-over-year basis by 1.1 percent in April 2012 compared to April 2011. This is the second consecutive month with year-over-year increases, and the first time two consecutive increases have occurred since June 2010. On a month-over-month basis, home prices, including distressed sales, increased by 2.2 percent in April 2012. This marks the second consecutive month-over-month increase this year. Continue Reading → Trulia today released the latest findings from the Trulia Price Monitor and the Trulia Rent Monitor, the earliest leading indicators available of trends in home prices and rents. Based on the for-sale homes and rentalslisted on Trulia, these monitors take into account changes in the mix of listed homes and reflect trends in prices and rents for similar homes in similar neighborhoods through May 31, 2012. Continue Reading → This morning RealtyTrac® released its U.S. Foreclosure Sales Report™ for the first quarter of 2012, which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 24 percent of all St. Louis metro area home sales during the first quarter — up from 17 percent of all St Louis home sales in the fourth quarter and the same as the first quarter of 2011. The report also shows that, during the quarter, over 10 percent (10.36) of St Louis metro home sales were short-sales, an increase from 5.85 percent the previous quarter and an increase from 7.46 percent from the first quarter of 2011. Continue Reading → Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for April 2012 showing an increase of 3.3 percent from the month before, and an increase of 9.9 percent from a year ago. The seasonally-adjusted new home sales rate for April was 343,000 homes, up from a revised rate of 332,000 homes the month before. The supply of new homes on the market decreased to a 5.1 month supply from a revised 5.2 months the month before. The median new home price increased slightly to $235,700 from a revised median price of $234,000 the month before and increased 4.4 percent from a year ago when the median new home price was $224,700. Continue Reading → |
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