St. Louis-area home sales slump 12.7% in Feb.
March 22, 2011
Home sales in metro St. Louis took another dive in February, the latest sign of a housing market still strugging to find its footing.
Sales were off 12.7 percent on the month, compared to the same time last year, in 11 counties tracked by the Post-Dispatch. And the median price fell in much of the region.
The numbers echo data released Monday by the National Association of Realtors, which saw sales fall 2.8 percent from last year, and 9 percent in the Midwest.
Sales here had grown in December and January, but fell for six straight months before that.
Realtors say tight credit and the weak job market are still keeping buyers on the sidelines, while the ongoing glut of foreclosures is dampening prices.
This second dip in housing is happening across much of the country, and most economists expect it to continue through the rest of the year.
Here are the numbers (courtesy of MARIS, Realtors Assn. of SW Ill., Kelsey Cottrell Realty and the Greater Gateway Assn. of Realtors).
|Feb. '10||Feb. '11||Change||Feb. '10||Feb. '11||Change|
|St. Louis County||695||612||-11.9%||$114,000||$123,250||8.1%|
|St. Louis City||194||139||-28.4%||$79,500||$70,500||-11.3%|
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