The St. Louis Real Estate Market
this week continues to show better buyer activity
as evidenced by the pending ratio pushing up over 15%
for the first time since August 2007. In some of the price ranges between $125,000 and $299,000 pending ratios are as high as 18.7%
. Homes that are on the market now are selling, and those that are priced at market value are selling quickly.
HOWEVER, don't get buyer activilty and increased home sales confused with pricing. Home prices still continue to decline, and by all indications and predictions by the "experts", we will continue to experience home price declines into the third quarter of this year. Some predictions even say we'll go into 2009 before things start to improve significantly.