Coldwell Banker Gundaker
The home market operates at about a 6 month inventory, but currently is running only off of four in a half months.
Coldwell Banker Gundaker President Jim Dohr says mortgage rates are still relatively low but first-time buyers are still less likely to buy now than in recent years.
Though home prices are skyrocketing in other cities, St. Louis is seeing more modest numbers.
One out of five homes that are purchased across the country are purchased by a single woman.
“I think national numbers show that prices are up nine percent or so…and we’re running between five and eight percent.”
Home prices in St. Louis aren’t rising as fast as they are in other parts of the country.
Residential real estate experts say home prices are slightly lower than they were a year ago, but are hopeful for what 2013 might bring.
Some local realtors say a recent survey of home prices in the area from the Federal Housing Finance Agency might be overly bleak.
The bad news? Dohr said home prices in the city are down four percent though all home prices are expected to rise next year.
One real estate company is giving good news to St. Louis home sellers- prices are staying up and inventory is going down.