Home prices on rise, foreclosure rates down in St. Louis area - KMOV.com

Home prices on rise, foreclosure rates down in St. Louis area

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By KMOV Web Producer By KMOV Web Producer

ST. LOUIS—Real estate agents in the St. Louis area say it is no longer a buyer’s market.

The number of homes for sale in the St. Louis region is down 13 percent over the past year based on information from Zillow, a real estate sales website. Meanwhile, more houses are selling.

Sales rose 13 percent last year in St. Louis County, and 10 percent in the first two months of 2013. Lower supply and higher demand is pushing up home prices, though some areas, including much of north St. Louis County, are still seeing declines.

A new housing report out Monday also indicates the foreclosure rates in the St. Louis area are falling. The figures, released by Corelogic, show rates in January were at just over 1.25 percent, down from the same time in 2012.

The national foreclosure rate sits at about 3 percent.

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