Wednesday, February 24, 2016

St. Louis housing market should heat up, experts say.

Sales in January — typically a slow month — were up 23 percent from a year earlier in St. Louis city and county. The typical house is selling in 126 days, down from 180 a year earlier.
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Home values in St. Louis were up 3.8 percent in December from a year earlier, compared to 6.8 percent nationally, according to CoreLogic, the real estate data company.

“No, it’s not a bubble,” said Smoke. “It’s a recognition of the fundamentals.” There are more buyers than sellers, and that leads to higher prices.
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“It’s a seller’s market, but not overly so,” said John Gormley, CEO of the St. Louis Association of Realtors
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