The St. Louis Real Estate Market this week seems to have hit a bit of a plateau with active listings. Even so, listings that are accepting contracts and home sales closing are still increasing. That means that inventory should be declining. This is more good news for sellers and this should be an added incentivve to buyers to be ready to make an offer when you find your home.
We've said this before, but look this week at inventory levels in the lower price ranges in St. Louis County. From $125,000 up to $249,000, inventory levels
The St. Louis Real Estate Market this week continues with our usual summer activity.
Our pending ratios (homes accepting contracts) in the lower price ranges continue to hover around 20 percent, or above. These are the price ranges where most first time homebuyers are shopping-and buying.
The St. Charles County
The St. Louis Real Estate Market this week continues with great activity and enthusiasm. However, over the last two weeks, a "monkey wrench" of sorts has been thrown into the mix for a lot of homebuyers and current homeowners who are planning to re-finance their mortgage.
Mortgage rates for the last two weeks have been going up, and now are at their highest level since Thanksgiving last year. WHOA!! How did this happen, you ask?
There are lots of theories out there, from less Federal involvment in the mortgage industry; increased buyer activity has made lenders over-confident of what's really hapening ; and homeowners who are re-financing through the "Makeing Homes Affordable" programs aren't able to if their current loan has mortgage insurance.
Holden Lewis, who writes for Bankrate.com has contributed two good articles on this subject last week entitled, " Mortage rates hit 6-month high" and "Rates
The St. Louis Real Estate Market is getting HOTTER by the week! At least in all price ranges below $300,000. Both St. Louis County and St. Charles County are showing pending ratios of at or near 20 percent. When was the last time you saw 1 out of every 5 homes listed accepting contracts within 30-40 days??
In St. Louis County, the pending ratios at or near 20 percent could be seen back as far as January in some price ranges, but we didn't see strong competition
The St. Louis Real Estate Market this week spotlights the St. Charles County Market Watch report.
If you thought homes were "flying off the shelf" in St. Louis County, check out the St. Charles Market Watch Report! In the price ranges of $100,000 to $200,000, pending ratios are above 25 percent, and look at the $100,000 to $124,999 range-53.4 percent. What's happening??
These price ranges typically move the St. Charles market, just like they do in St. Louis
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