Area Housing Market Continues Modest Recovery
ST. LOUIS, Mo. (KMOX) – The St. Louis area is doing better than most when it comes to the housing market.
Coldwell Banker Gundaker says it’s good, but not perfect.
“The Midwest in general is comparing very favorably,” President Jim Dohr said.
He says prices are on a steady incline this quarter, and inventory is down. Inventory levels in the St. Louis area are down 22 percent from this time last year.
He says the market is far from strong, and prices aren’t where they were a year ago. But he says the trend is encouraging.
“It’s really a tale of two quarters,” he said.
The housing market took a beating over the winter but has made a recovery that started in the late Spring.
In previous election years, the weeks before the election caused a slower housing market. Dohr says he isn’t sure if that will happen this time around – with more than two months until the election it’s too soon to tell.