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.
A new study from RealtyTrac shows 29 percent of mortgage holders here are underwater. That’s higher than the national average of 26 percent.
RealtyTrac Vice President Daren Blomquist says that while local sales increased nine percent in June over last year, sale prices here decreased by eight percent.
Like sardines in a can, Harriett Hubbard says Washington University students are cramming into houses on her quiet, mid-city street.
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.”
Homes for sale in the Shaw Neighborhood are nonexistent; the reason, a very popular charter school that people want to enroll their children in.
“The old buildings of the neighborhood create a sense of place. You know you’re in old North St. Louis versus generic anywhere.”
“We’re finding that consumer confidence is way up and that people are sick and tired of being sick and tired,” Kelly Hager said.
The Labor Department says the unemployment rate stayed at 7.8 percent last month. November’s rate was revised higher from an initially reported 7.7 percent.