Janet Horlacher: Our Outlook For Spring 2016

Janet Horlacher
Principal

Our Outlook for Spring

“Spring Forward!”  We are optimistic and excited about this year’s Spring Market in St. Louis.  Early signs are positive for all market indicators.

“A Strong Tailwind.”  2015 recorded double digit sales gains and solid price appreciation across many of our geographies and housing segments.  Janet McAfee enjoyed a record year!  A strong 2015 finish is spilling over into 2016 as our pipeline of qualified buyers are eager to make offers.

“Low Inventory.”  The National Association of Realtors announced 40 consecutive months of inventory under 6 months, creating a shortage of available listings to meet buyer demand.  In St. Louis, our inventory is even lower!  To take advantage of this condition, we are currently working with many sellers to get their homes “market ready” for spring selling.

“Home Price Recovery.”  In most segments, median sales prices have recovered to pre-bust levels.  This is allowing sellers to finally move forward with their long delayed moving plans.

“Affordability.”  St. Louis was recently named one of the most affordable housing markets in the country!  We know that home ownership among the largest segment of the population (which is now Millennials) is strongly correlated with affordable markets.  This fact bodes well for our St. Louis metropolitan area. 

“Low Mortgage Rates.”  Mortgage rates were 3 basis points lower the beginning of this year.  That translates to about 5% more buying power. 

“Strong Buyer Demand.” Traffic to all real estate websites has increased significantly.  REALTOR.COM reported January was the busiest month ever, and over 2/3 of Millennials are looking on-line for real estate.

Simply click on the home page icon "Market Report" to see our 2015 Annual Housing Report.