Can St. Louis Housing Market Hold Steady This Fall?
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ST. LOUIS, Mo. (KMOX) - With reports earlier this week that consumer confidence in the economy plunged to a two-year low in August, some real estate experts are wondering what they’ll see in the housing market in coming months.
Coldwell Banker Gundaker President Jim Dohr tells KMOX it’s been a decent six months for St. Louis home sales. “We’ve had a pretty consistent amount of business in our marketplace since the beginning of March.”
But Dohr says he can’t predict what’s next. “It remains to be seen what will happen as we head into the fall and into the winter months,” especially in light of consumer confidence figures.
He says first-time home buyers and investors in particular still seem to be taking advantage of low interest rates. Dohr says the St. Louis area saw about a five-percent dip in home values early in the year, but that stabilized over the summer. The average home in St. Louis is selling in 106 days, up slightly from a year ago when the average home was selling in 92 days.
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