St. Louis housing market is on the rise - KMOV.com

St. Louis housing market is on the rise

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By Brian Feldman, News 4

The next time someone tries to tell you St. Louis is dying and no one wants to live here you can counter their argument with quite a few statistics.  Home sales were up 23 percent in January compared to the same time in 2015.  The median sales price increased by nearly 10 percent.  And the average time a home spends on the market is down by nearly two full months.

“The St. Louis real estate market has more than bounced back.  It’s up to a fast start for 2016,” said John Gormley, CEO of the St. Louis Association of Realtors.

“St. Louis has always been ideally located so it’s easy for businesses to get their products back and forth, the type of job creation here, the quality of life and the affordability.  You put all those together and it points to St. Louis,” Gormley said.

Gormley also points the affordability in the city compared to other major metropolitan areas as a reason for the spike.  But it’s one main generation that’s moving the needle more than any other.

“Millennials are a big part of our home buying.  Nationally, among new buys 42 percent are millennials but in St. Louis it’s 47 percent,” Gormley said.

Maybe this will stop the narrative that St. Louis is dying and no one wants to live here because of crime.  The housing market is up.  Someone obviously wants to live here, right?

Copyright 2016 KMOV (Meredith Corporation). All rights reserved.

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