New Home Sales Rate In The Midwest Decreases In June But Up From Year Ago

New homes sold in the Midwest region of the U.S. in June were at a seasonally-adjusted, annual rate of 71,000 homes, according to a report just released by the U.S. Department of Commerce and United States Census Bureau.  June’s new home sales activity in the Midwest represents a 13.4% decline from May when new homes in the Midwest sold at an annual rate of 82,000 homes but is a 7.6% increase from June 2017 when the annual rate was 66,000 homes.  Last year the rate of new home sales in this region increased every month after June up until December when it crashed but closed out the year with 72,000 new homes sold.

In terms of the actual number of new homes sold this year in the Midwest region, there have been 44,000 new homes sold this year thus far, through the end of June.  Last year, for the same time period, there were just 38,000 new homes sold in this region year to date so we are up 14.4% in non-seasonally adjusted, actual year to date new home sales in the Midwest through the end of June.

  

U.S. New Home Sales – 2013-2018 – Chart

U.S. New Home Sales - 2013-2018 - Chart

 

St. Charles County Association of REALTORS(R) Presidents’ view of the market – Final Post

Dennis Norman

Dennis Norman

By: Dennis Norman

For the past two days I have written about my E-View with Karen Vennard, the 2009 President of the St. Charles County Association of REALTORS(R) to get her take on the real estate market in St. Charles County. 

Today will be the final post in this series in which Karen has been shared her insights with us on the real estate market in St. Charles County.  Now we’ll pick up where we left off yesterday:

Karen Vennard, 2009 President, St. Charles County Association of REALTORS

Karen Vennard, 2009 President, St. Charles County Association of REALTORS

Dennis – We hear a lot about REO’s, foreclosures and short sales being a large part of the sales activity in many local markets.  Do you know what percentage of the current activity in St. Charles County would be these types of sales?  Also, please tell us how they affect your market.

Karen – I do not have the percentage of REO/Foreclosures/Short Sales nor can I say that they do not exist but St. Charles County has not been as adversely affected as some areas in the Metropolitan area by these types of sales.  Some people can see that this is an opportunity for these “distressed” homes to be sold and brought back up to market value.  I see this as a chance to revitalize neighborhoods that may have been affected by an increased number of foreclosures.

Dennis – What do you feel are the best opportunities today for home buyers in St. Charles county? Continue reading “St. Charles County Association of REALTORS(R) Presidents’ view of the market – Final Post

St. Charles County Association of REALTORS(R) Presidents’ view of the market – Part two

Dennis Norman

Dennis Norman

By: Dennis Norman

Yesterday I began my E-View with Karen Vennard, the 2009 President of the St. Charles County Association of REALTORS(R) to get her take on the real estate market in St. Charles County.

Karen’s extensive knowledge of the market was apparent in her informative answers in yesterdays E-View.  Now we’ll pick up where we left off yesterday:

Karen Vennard, 2009 President, St. Charles County Association of REALTORS

Karen Vennard, 2009 President, St. Charles County Association of REALTORS

Dennis – Where do you see the real estate market in St. Charles County at now?

Karen – I see the market recovering; there has been an increase in pending sales in St. Charles county over this time last year.  That trend has been seen for the past 4 months now in the County.

Dennis – That’s encouraging news and also is fairly consistent with what I have seen in the metro market.  Now, lets talk about home prices.  People in most markets would be happy just to see some price stabilization and aren’t even talking about any appreciation in the near future.  Has, or is, St. Charles County seeing any price stabilization at this point?  Any idea when appreciation may come back into existence? Continue reading “St. Charles County Association of REALTORS(R) Presidents’ view of the market – Part two

St. Charles County Association of REALTORS(R) Presidents’ view of the market – Part 1

Dennis Norman

Dennis Norman

By: Dennis Norman

According to the website for the Economic Development Center for St. Charles County, the county was established October 1, 1812.  St. Charles County encompasses 561-square-miles of diverse landscape spreading out westward from the confluence of the Mississippi and Missouri Rivers.

According to the Census Bureau, in 1970 the population of St. Charles county was 92,954.  By 2008 the population had grown to 349,307, an increase of over 275% in that 38 year period.  During the same period St. Louis County had a modest increase in population of just over 4% growing from 951,671 to 991,830.  The city of St. Louis saw a huge decline during the same period with the population dropping from 622,235 people to 354,361, losign over 43% of its population. Continue reading “St. Charles County Association of REALTORS(R) Presidents’ view of the market – Part 1