Tuesday, August 25, 2009

St. Louis home prices now falling faster than U.S.

From Post-Dispatch - http://www.stltoday.com/blogzone/building-blocks/uncategorized/2009/08/st-louis-home-prices-now-falling-faster-than-us/

Home prices in the St. Louis region fell 11.3 percent in the 12 months ending in June, according to an index tracked by real estate data firm First American CoreLogic. That’s faster than the national average of 7.8 percent.

It’s also faster than the decline reported in May - 9.9 percent - a sign that even as home sales appear to be bottoming out, prices in metropolitan St. Louis still have some way to fall.

Indeed, First American’s price index for the nation as a whole has shown some improvement in recent months, actually climbing a few percentage points between January and June. But in St. Louis, the situation has worsened. In March, the region saw a fall of 7.4 percent. Now it’s up to 11.3.

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