Today in St Louis - June 6, 2007

By
Real Estate Agent with Platinum Realty 1999090686

Today, I received the NAR (National Association of Realtors) online newsletter.  In it was an article about the slowing housing market.  "According to a report released by Standard & Poors/Case -Shiller, declines in home prices in twenty U.S. metropolitan areas continued in the 12 months ending in March as the supply of homes exceeded demand."  Although all twenty cities were not listed, Detroit and San Diego were two cities that showed a decrease in home prices.  Seattle and Charlotte were two cities that showed increases in home prices.

According to the report, "home values, nationally, dropped 1.4 percent from March 2006, indicating that sellers had to reduce prices to lure buyers into the market for both new and previously-owned properties."

The report continued, saying that "rising foreclosures and defaults on subprime mortgages may add to the number of unsold homes, delaying the recovery from the slump."

"According to the National Association of Realtors, the median price of an existing home fell 0.8 percent in April from a year earlier to $220,000."

Prices of new homes have also dropped.  "Commerce Department figures on May 24 showed a median price of a new home dropped eleven percent last month from April 2006, the largest decline sine 1970, to $229,100."

http://www.timtanzhomes.com

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Missouri Saint Louis County Saint Louis
Tags:
condo
real estate agent
mls
home
keller williams
investment property
multifamily
saint louis
gay
mo
st louis real estate
st louis realtor

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
290,397

Tim Tanz

St Louis Real Estate
Ask me a question
*
*
*
*
Spam prevention

Additional Information