Top Housing Markets Slip – Better in St. Louis
ST. LOUIS, Mo. (KMOX) – This week we saw housing prices in the top U.S. markets slip — some to new lows.
In the St. Louis real estate market, “the average sale price is about flat with last year,” and Jim Dohr, President, Coldwell Banker Gundaker, says when you compare that to other markets, it’s good news.
“We did not, in St. Louis, have a huge run-up in prices when the market was red hot as did some of these other markets so we just did not have as far to fall.”
Dohr tells KMOX, the rough start, is no surprise, “we assumed that it was going to be a slow climb out of this hole that has been dug in the residential real estate industry.”
But Dohr adds March numbers could bode well for spring. “We’re seeing a slight uptick in sales. Nothing fantastic, but certainly there is room for hope in our marketplace.”
He says ultimately the health of housing market will hinge on the overall economy, including consumer confidence.
Copyright KMOX Radio