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Home Sales Up So Far This Year

Allison Blood KMOX
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House for sale, Getty Images, Terry Vine
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ST. LOUIS, MO (KMOX) - St. Louis home sales are higher than the national average this January. President of Coldwell Banker Gundaker, Jim Dohr, says that could be due to a small turn in the economy, or it could be due to the mild winter St. Louis has seen so far.

“When it’s cold and there’s ice and snow, you really have to be motivated to go out house hunting,” Dohr says.

Sales were up in December too. He says overall though, the sales were about the same as they were in 2010, with prices only dipping slightly. He says this is a market that is good for buyers, with low-interest rates and lots to choose from. He says it’s not a terrible market for sellers, though. He says a fairly priced home “should have no problem” being sold.

Dohr says it’s too early in the year to be predicting how the sales and prices will change in 2012, but says he is “cautiously optimistic” about the Spring season. He says St. Louis has been pretty lucky in the wake of the housing bubble bursting. He says during the entire housing bubble, St. Louis houses lost about 16 percent of their value in St. Louis, compared with 50 or 60 percent in other parts of the country.

KMOX © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

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