Missouri homebuyers are approaching the 2011 St. Louis market with cautious optimism. Above average foreclosure rates and high unemployment levels have created an environment that fosters lower home prices. With the help of St. Louis REALTORS®, buyers are making a conscious effort to better educate themselves to the realities of the local real estate marketplace. With the stabilization of home prices, St. Louis homebuyers have a rare opportunity to capitalize on low interest rates and the substantial home values that are currently available. Missouri REALTORS® are being approached by first time home buyers who are excited about current home prices and low mortgage interest rates.
Although the economic forecast for St. Louis is still shaky there seems to be some room for optimism in homebuyers. The number of buyers has been greatly reduced due to high unemployment levels and this is a benefit for homebuyers looking to get into the market at this time. Sellers are experiencing above average sale times and with reduced buyer activity they have been forced to lower prices and offer incentives to attract homebuyers.
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