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Report: St. Louis Home Sales Continue To Rise

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ST. LOUIS (KMOX) - It’s good news for a market that has needed it desperately.

A National Association of Realtors report shows a rise in home sales in the St. Louis region for a third consecutive month and substantial gains when this year’s figures are compared to those of a year ago.

Nate Johnson, President of the St. Louis Association of Realtors, says the report provides two years of real estate figures by which realtors can judge last month’s numbers.

“We’ve seen a bit of an uptick in our average sales price from 2009,” Johnson said.

And comparing July’s numbers to those in 2009 is important, according to Johnson, since 2010’s figures are believed to have been artificially inflated due to the introduction of tax credits to lure prospective home buyers.

“One interesting figure we had is that we saw an increase in homes sold for the month of June as opposed to the month of June for 2010 which was a nice surprise,” Johnson said.

While the hope among realtors is that the three month jump is an indication of a recovering market, Johnson said that he’s not looking for – nor is he expecting – a miracle.

“We’re not looking for huge numbers here,” he said. “We just want to get back to a normal, healthy market of three to five-percent annual appreciation.”

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