St. Louis, MO - Local Housing Data - Summary

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St. Louis, MO, IL

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St. Louis, MO Local News

  • 1Q14 St. Louis Housing Market Analysis

    Sales and average household income for buyers are both down in St. Louis. The first-quarter data from Metrostudy for the St. Louis housing market shows sales have slowed significantly in 2014. Despite the drop in closings overall, price appreciation in the market is still picking up pace hindering...

  • St. Louis, MO - April 2014 - Figures for New Home Closings Suggest Market Drop is Subsiding

    New home sales fell in St. Louis, MO in April. Foreclosures as a percentage of existing home closings dropped, falling 4.1% percentage points. The percentage of new home closings belonging to single family homes rose, climbing 1.1% percentage points. Average prices of new homes moved up, rising 5.1%...

  • St. Louis, MO - March 2014 - New Home Closings Figures Signal Market Decline Getting Steeper

    New home sales fell in St. Louis, MO in March. Real Estate Owned (REO) closings as a percentage of existing home closings dropped, falling 6.3% percentage points. The percentage of new home closings belonging to single family homes rose, climbing 2.1% percentage points. Average prices of new homes...

Recent Figures Show New Home Prices Rise, Sales Drop in St. Louis

Posted on: Aug 08, 2014 11:52:13 AM

Closings of new homes slid year-over-year in May in the St. Louis, MO market, and there were suggestions the market may be worsening with a percentage drop steeper than that of April 2014. New home closings saw a 81.9% fall from a year earlier to 30. In comparison, new home closings in the same month last year saw a 76.4% drop year-over-year in April.

A total of 937 new homes were sold during the 12 months that ended in May, down from 1,073 for the year that ended in April.

Out of all housing closings, new home closings represented 0.6%. This is down from the a year earlier when new home closings accounted for 3.0% of total closings. For new and existing homes, closings dropped in May after also declining in April year-over-year.

Pricing and Mortgage Trends

The average price of new homes rose year-over-year in May to $284,260 per unit, a rise of 4.6%. This surge is smaller than the 19.8% rise in April year-over-year.

The average mortgage size on newly sold homes declined year-over-year in contrast to the average price of new homes. In May 2014, average mortgage size sank 4.4% from a year earlier to $223,787. In April 2014, average mortgage size on newly sold homes saw a 3.8% boost year-over-year from a year earlier.

 
 
 

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