The Active Rain Realtor Nationwide Survey About Missouri
The real estate market in Springfield, MO moderate at the present time. This market includes Greene and Christian Counties within the State of Missouri. Christian County was the fastest growing county in the state prior to the market declining, with Greene County coming in right behind it. While our area wasn’t affected as much as other parts of the country when the bubble burst, it was still hit hard by the reduction of new construction homes, which was a vital part of our local economy.
There is no doubt the tax credit escalated activity and sales in the Springfield, MO, area. Many buyers found themselves in multiple offer situations as the tax credit deadline closed in on them. Since the expiration of the tax credit, activity has slowed tremendously. However, June is typically the time of year when activity increases due to the end of the school year. The phones are still ringing moderately; however, the number is contracts being written has declined. This tells me the normal market of homebuyers looking to purchase between the time period of school ending, and a new school year beginning, has started. These buyers are the beginning stages of their home searching and we can expect to see the fruits of these buyers in terms of contracts written within the next 30-60 days.
Prices are holding relatively steady here now. The ratio of price reductions has not increased significantly during the month of May. I suspect our market will hold during the summer months.
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