Home Prices See Slight Gain in St. Louis For June | Real Estate ...

A new report from data solutions company Clear Capital showed home prices showing modest improvement in June. However even with this improvement, St. Louis still trails behind most major metropolitan areas when it comes to its real estate market. Local economists are hopeful the rise in home prices will spur recovery in the home market in the city as it has in other parts of the nation.

Slowing the Decline
The last five years have been hard on the St. Louis real estate market so even a slow down in negative numbers is a cause for optimism. Prices for homes rose only by 0.2% between April and June. Yet his was still 1.1% under the same numbers for 2011 and Clear Capital predicts this could drop another 1.1% drop over the next six months. This would put St. Louis at 46^th out of the 50 major U.S. metropolitan areas in terms of growth.

Hitting Bottom
While looking bad, economist are seeing these numbers as indications that the St. Louis real estate market has finally hit bottom and is slowly recovering. As home prices have risen an average of 1/7% across the country, experts feel as prices rise, more home-owners will list their St. Louis homes for sale which will spur more sales which in turn will promote more sellers to list. With rental vacancies at a 10-year low driving up prices, experts believe more people will take advantage of historic low mortgage rates?to buy a home which will help the market recover further.

Give Linda Friedrich a call today at?866-598-1179 if you?re in the market to make a serious real estate move.

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Source: http://blog.lindacansell.com/real-estate-news/home-prices-see-slight-gain-in-st-louis-for-june/

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