ST. LOUIS, Mo. (KMOX) – A report from the Federal Housing Finance Agency shows a decline in home prices across the area, but local realtors say that report doesn’t tell the whole story.
The report showed home prices on a slight decline – about a half percent in the third quarter compared to the second.
Coldwell Banker Gundaker president Jim Dohr says where the report shows a decline in home prices, prices are actually flat. He says that’s because the report only takes into account loans owned by Freddy Mac and Fannie May, which he says is only about 70 percent of the homes in the region.
He says considering all data from the Multiple Listings Service, it looks a little different.
Dohr also focused on the number of homes sold, which is up 25.3 percent according to the St. Louis Association of Realtors.