This Week In Real Estate - July 9th Edition

Interest rates are on the rise again this week. No reason to jump ship just yet as rates still hover near 4%, but it is time to make a move if you have planned on it and haven't yet done so. According to CNN Money clues to why the interest rate rising have started to emerge, http://money.cnn.com/2013/07/05/news/economy/june-jobs-report/index.html "clues first emerged that the Fed may slow purchases of bonds and mortgages as early as this year. Bernanke later said the stimulus program could end altogether if unemployment hits 7% -- which the Fed expects by the middle of next year. "

What does this mean for us in mid county St.Louis? Well not much right now. Normally with a rise in interest rates comes a slowing of the market. Yet we are still posting pre bubble gains in prices, and home sales. According to the local multiple listing service Maris, prices were up 11% for the month of May. I am still seeing multiple offer situations, and many homes selling as soon as they hit the market. The market is starting to heat up guys don't miss out on the few remaining deals with low interest rates and still low housing prices.

Here's a quick snapshot of what our market has done from 7.2.13 through 7.9.13:

For Maplewood this past week:
- 0 homes closed
- 1 went under contract
- 1 new listing

- 0 price improvement

- 0 homes failed to sell and were taken off the market

The price points ranged from $124,900 to $198,000

For Richmond Heights this past week:
- 1 homes closed
- 4 went under contract
- 1 new listing

- 0 price improvements

- 0 homes failed to sell and were taken off the market

The price points ranged from $132,250 to $705,000

For Brentwood this past week:
- 2 homes closed
- 1 went under contract
- 0 new listing

- 2 price improvements

- 1 homes failed to sell and were taken off the market

The price points ranged from $117,000 to $625,000

Questions? Call or Email me!
Joshua Horn

Coldwell Banker Premier Group
314-448-3247
STLHomeSales@Live.com