The Market is Moving!!!

  Happy April!  I hope this finds you enjoying a warm toasty place on this cold rainy day!  Hey there is some great news for the St. Louis real estate market.  Things are picking up!  We have been busier the last 3 weeks than we have been in the last 2 years!  That is great news. 

On a national level there is good news too.  Existing Home Sales increased 2.9% in February. The annual rate came in at 5.03 million, solidly above the expected 4.85 million level. Overall, sales were up for both single-family homes and condos/coops.

Best news of all, the inventory of existing homes is declining. The overall supply fell to 9.6 months in February from January's 10.2 months. Even better, the inventory of single-family homes dropped to 9.2 months in February, from January's 10 months.

New single-family home sales came in at an annual rate of 590,000, nicely above the expected 578,000. The really good news was the change in new home inventories. At the end of last year, it stood at 197,000, a record. But after dropping two months in a row this year, the inventory of completed new homes is down to 188,000. The February drop in fact was the steepest in 35 years.  Which means more existing new homes sold in February than in any month in the last 35 years. 

If you or someone you know wants to move but are afraid you won’t be able to get your home sold, give me a call.  I can help.  One of my listings that just sold in only 35 days was a house that had previously been listed with Re/Max and did not sell and our team was able to get it SOLD!  Now more than ever, the agent you hire makes a difference.  You don’t have to pay anymore to get more.  Call us today to find out how we can help you.