According to the St. Louis Regional Chamber of Commerce, the City of St. Louis’ 3.4 % unemployment rate is below both the State of Missouri unemployment rate and the national rate. Even more impressive, the city of St. Louis has its lowest unemployment rate in almost two decades. That kind of news has to be good for the St. Louis real estate market!
According to St. Louis REALTORS President Marc Levinson, “Feeling secure in our careers and finances is a “must-have” before investing in a home. It really doesn’t matter if you are a first-time homebuyer or an existing homeowner making a transition, that type of security is always important.”
The St. Louis Housing Report July 2018 Report shows tight inventory as interest rates have increased says the St. Louis Realtors in their monthly report covering and comparing July 2018 statistics with July 2017 stats.
“For buyers, growing optimism about St. Louis’ economy is in full swing,” continued Levinson, “We just need more existing homeowners to help balance out the housing market by making a move too.”
The Supply of Homes Remains Low
According to the report real estate month of inventory decreased to 2.25 month supply. (What’s months of inventory?)
Attention buyers: you will have competition from other buyers so be prepared … and educated!
What’s a Buyer To Do?
Get to know the area and market you are interested in. Get the numbers before you jump in and take heart. There’s someone on your side who feels your pain! Our company has worked for Buyers only for over 15 years. We don’t even list homes which helps us avoid the potential conflict of interests that can come up in buying and selling a home. Think about it a second. The listing agent is there to protect the seller and sell their home at the highest price, that’s their job.
Does this match up with your goal as a buyer? (probably not) Learn More About the Concept You, the buyer, should have your own ExclusiveBuyer Agent who is there to protect your interests at every step of the real estate transaction. Your own Exclusive Buyer Agent works only for you providing the relevant data, comparative analysis on homes, neighborhoods, and home values from a buying, not selling perspective. Knowing the market and what you’re up against is the first step toward a successful home purchase. Check out some of our previous posts and call us at 636-532-4200 to set up a time to discuss your needs.
Get a Jump on the Competition-Search for Coming Soon Properties
What’s a Buyer To Do?
