Missouri home prices up, sales down

3 years 6 months 3 weeks ago Tuesday, February 24 2015 Feb 24, 2015 Tuesday, February 24, 2015 2:54:00 PM CST February 24, 2015 in News
By: Amanda LaBrot, KOMU 8 Reporter
loading

COLUMBIA - Nationwide home prices are up and sales are down, according to new statistics from The Standard & Poor's Case-Shiller Home Price Index. Missouri Realtors indicate the state is following that trend.

According to the home price index, prices were up 4.6 percent in Dec. 2014 from Dec. 2013, and home sales fell 4.9 percent nationally. In Missouri, sales were down 2.4 percent last month from Jan. 2014, and selling prices were up 5 percent from 2014. 

John Sebree, CEO of Missouri Realtors, said it's not unusual for home sales to go down in winter months because people don't want to be in the cold weather house hunting.

"When the weather is bad, people just don't get out and look at homes," Sebree said. "We always expect home sales to be down just a little bit in January, and we did see that."

Aaron Hedlund, an MU economics professor, specializes in real estate and says price fluctuation doesn't really make a huge difference when looking at homes in Columbia.  He said prices don't generally change enough for people to decide not to buy a home, but it is a consideration when deciding which home to buy.

"If you're going to buy a house in Columbia, you buy a house because you want to live there," Hedlund said. "You're not going to buy a house because you want to make a bunch of profit on it."

Sebree said the median price for a home in Missouri is actually lower than the rest of the Midwest, so he sees that as a benefit for potential home buyers.

According to a press release from Missouri Realtors, "The median residential property selling price also appreciated, coming in at $122,532. This median property selling price is an increase of 4.7 percent over 2014."

Sebree said, "I think it's an incredible time to buy. I believe there are numbers of families who have been sitting on the sidelines. They've been thinking 'when should we get in this market? Are prices going to fall?' And they're not."

Hedlund said, "The fact that house prices are going up a little bit makes things more expensive, but overall it's a sign of health. So in that sense, it's a pretty good time to buy."

Both Headland and Sebree said it's a good time to purchase a house, especially because interest rates are so low. As far as time on the market, Hedlund said it's not a statistic that is considered very often, but Sebree said it has decreased. He said homes are on the market in Missouri for an average of three days less than this time last year.

 

 

More News

Grid
List
COLUMBIA -- The mayor of Columbia's task force on Climate Action and Adaptation planning could recommend an increase in renewable... More >>
1 hour ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 2:24:00 AM CDT September 19, 2018 in News
CALLAWAY COUNTY - Jeff Jones is living just a quarter of a mile away from a future Controlled Animal Feeding... More >>
7 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 8:26:00 PM CDT September 18, 2018 in News
COLUMBIA - Assistant City Counselor Jose Caldera announced the city and Bird are talking about short-term rules regulating the rental... More >>
8 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 7:25:00 PM CDT September 18, 2018 in News
COLUMBIA - Missouri Task Force One continues rescuing people, checking on others and sheltering those in need in the wake... More >>
9 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 6:48:00 PM CDT September 18, 2018 in News
COLUMBIA - After volunteering at a detention center for women and children seeking asylum in the U.S., one Jefferson City... More >>
10 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 5:20:00 PM CDT September 18, 2018 in News
COLUMBIA - Bird scooters will be discussed at the Bicycle and Pedestrian Commission meeting Wednesday night. The commission will... More >>
10 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 5:19:00 PM CDT September 18, 2018 in News
COLUMBIA - A teenager pleaded guilty Monday in connection with a deadly 2016 shooting on Claudell Lane. Navarro Scott,... More >>
12 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 3:35:11 PM CDT September 18, 2018 in News
SUNRISE BEACH - Fire Chief Dennis Reilly announced his resignation due to harassment from a board member. Reilly said... More >>
12 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 3:23:00 PM CDT September 18, 2018 in News
COLUMBIA - City employees are getting a raise in this year's budget, but some say it's not enough for line... More >>
12 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 3:13:00 PM CDT September 18, 2018 in News
COLUMBIA - A lawn care app launched in Columbia to connect consumers with people who want to make extra money... More >>
13 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 2:16:00 PM CDT September 18, 2018 in News
JEFFERSON CITY - The Jefferson City Police Department is set to receive nine brand new police vehicles in the next... More >>
14 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 1:56:00 PM CDT September 18, 2018 in News
MACON - Deputies are investigating after a member of the Missouri National Guard was shot at a training site near... More >>
14 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 1:40:00 PM CDT September 18, 2018 in News
(CNN Money) -- Facebook's ad targeting system is being used by some employers to unlawfully discriminate based on gender, a... More >>
17 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 11:06:05 AM CDT September 18, 2018 in News
NEOSHO (AP) — A southwest Missouri man has pleaded guilty to shooting at a sheriff's deputy during a chase. ... More >>
17 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 10:41:00 AM CDT September 18, 2018 in News
COLUMBIA - A woman has been arrested on suspicion of abuse or neglect of a 4-year-old child. Police arrested... More >>
18 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 10:11:00 AM CDT September 18, 2018 in News
COLUMBIA - A more than 25-year-old park shelter and playground could say goodbye soon. The replacement of those two... More >>
20 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 7:52:00 AM CDT September 18, 2018 in News
JEFFERSON CITY - The Jefferson City Council approved the 2019 fiscal year budget Monday for $32,807,390.05. Mayor Carrie Tergin... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 10:13:00 PM CDT September 17, 2018 in News
FULTON - The Fulton Police Department arrested five people Monday for stealing from a Hibbett Sports store in Fulton. ... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 9:49:00 PM CDT September 17, 2018 in News
Columbia, MO
Broken Clouds 73°
5am 73°
6am 72°
7am 72°
8am 74°