ST. LOUIS, Mo. (KMOX) – While the sales of foreclosed upon homes are dropping across the United States just released figures show that Missouri is bucking the trend.
Nationwide such sales in the first quarter were down 23 percent over the same time last year, but according to RealtyTrac Vice President Daren Blumquist, they were up 27 percent in Missouri.
But Blumquist says those sales could actually serve as a stimulant for the local housing market. “It will attract investors and buyers to invest in the St. Louis market were they’re finding not a lot of inventory available in other markets.”
Blumquist says the good news is that the average price for a bank owned property in Missouri was up 17 percent in the first quarter