January 2017 Real Estate Market Update

Real Estate

January 2017

Home Is in the Heartland for Millennial Homebuyers

As housing prices continued to rise across the country, more Millennial homebuyers eyed cities in the American heartland where prices remain remain comparatively more affordable… Minneapolis topped the list as the most popular metropolitan area for homes purchased by Millennial buyers (44 percent), followed closely by Philadelphia (43 percent), St. Louis (42 percent), Chicago (40 percent) and Detroit (40 percent).

Business Wire, December 7, 2016

 

CoreLogic Reports Home Equity Increased $726 Billion in the Third Quarter Compared With a Year Ago

Average Annual Gain in “Home Equity Wealth” Reaches $12,500 Per Home…U.S. homeowners with mortgages (roughly 63 percent of all homeowners) saw their equity increase by a total of $227 billion in Q3 2016 compared with the previous quarter, an increase of 3.1 percent.

Corelogic, December 8, 2016

 

St. Louis Home Sales Were Up 31 Percent in November

It's not just your imagination: St. Louis houses really are flying off the MLS system almost as fast as agents can list them. In fact, 31 percent more single family homes were sold in the St. Louis area in November 2016 than in the prior year, according to the organization St. Louis REALTORS.

Riverfront Times, December 22, 2016