Rising prices on existing homes good for local economy

10 months 2 weeks 6 days ago February 28, 2016 Feb 28, 2016 Sunday, February 28 2016 Sunday, February 28, 2016 12:30:00 PM CST in News
By: Madeline Odle, KOMU 8 Reporter
Embed Code Copied

COLUMBIA - Higher prices for people selling their homes shows positive growth in Columbia's economy, according to a local real estate agent.

The National Association of Realtors reported this week sales of existing homes in the U.S. are the highest they have been in 6 months.

RE/MAX agent Isaac Cox said this is a reflection of a rise in demand for those houses.

According to Cox, Columbia's economy is steadier than what the national numbers reflect. So existing-home prices have not increased as sharply.

However, they have had a more limited supply of these houses to show than in the past, keeping prices up.

"It takes us about 3 months to get through the current listings that are in the market," Cox said, where they used to go through home listings in 7 months or more.

He said it is a good thing the prices are going up on those existing homes.

"It's been kind of a tough market for existing homes with all the increasing supply of new homes," Cox said. "There have been so many brand new homes available that there's really, you can choose from just about anything, any price point. So it is nice to see the existing house price come up, it kind of represents the core and the center of the city."

The National Association of Realtors will release the latest existing home sales later in March.

More News

Grid
List
ST. LOUIS (AP) — St. Louis police are investigating the shooting death of a 15-year-old girl. Two masked... More >>
4 minutes ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 10:07:00 AM CST in News
ROLLA (AP) — Authorities in south-central Missouri are investigating after a woman's body was found in a ditch along a... More >>
13 minutes ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 9:57:39 AM CST in News
INDEPENDENCE (AP) — Authorities are investigating a homicide in the Kansas City suburb of Independence. KMBC-TV (http://bit.ly/2j8OjVY) reports... More >>
17 minutes ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 9:54:02 AM CST in Continuous News
VANDALIA-The city of Vandalia is declaring a boil advisory until Thursday at 3 a.m. The city’s water pressure dropped... More >>
28 minutes ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 9:43:00 AM CST in News
LIBERTY (AP) — The former campus president of a Kansas City trade school says he was fired for letting a... More >>
40 minutes ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 9:31:00 AM CST in News
Moody's Corporation has agreed to a settlement following a conduct investigation by the U.S. Dept. of Justice, 21 states and... More >>
59 minutes ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 9:11:56 AM CST in News
COLUMBIA – The advisory board for Columbia Water and Light is set to meet Wednesday morning to discuss its goals... More >>
2 hours ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 7:24:00 AM CST in News
EUGENE, Mo. (AP) — Authorities say a 9-year-old boy has died after a farm tractor overturned in mid-Missouri. The... More >>
3 hours ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 7:07:00 AM CST in Continuous News
JEFFERSON CITY, Mo. (AP) — A contentious right-to-work bill to ban mandatory union fees is set to be debated by... More >>
3 hours ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 6:40:34 AM CST in Continuous News
HOUSTON (AP) — The Latest on the hospitalization of former President George H.W. Bush (all times local): 5:20 a.m.... More >>
3 hours ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 6:14:00 AM CST in Continuous News
PHELPS COUNTY - Deputies were dispatched to the intersection of County Road 3000 and County Road 3220 Tuesday around noon... More >>
11 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 10:44:00 PM CST in News
COLUMBIA - A bill sponsored by U.S. Senator Claire McCaskill (D-Missouri) that hopes to cut government waste and increase accountability... More >>
11 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 10:18:00 PM CST in News
JEFFERSON CITY – Governor Eric Greitens gave his first State of the State address Tuesday, just eight days after his... More >>
14 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 7:33:00 PM CST in News
Columbia – The Mayor's Task Force on Medical Tourism met Tuesday to discuss possible recommendations to the Columbia City Council.... More >>
15 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 6:52:00 PM CST in News
COLUMBIA – Concerned community members gathered at Republican U.S. Representative Vicky Hartzler’s office Tuesday to protest a recent development in... More >>
20 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 1:58:00 PM CST in News
COLUMBIA – Higher education institutions have concern over the impact of Governor Greitens' announced budget cuts that will largely decrease... More >>
20 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 1:41:00 PM CST in Continuous News
JEFFERSON CITY - Rep. Kip Kendrick, D-Columbia, filed two bills on Tuesday addressing the rise of student debt. The... More >>
20 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 1:35:00 PM CST in News
CARTHAGE (AP) — Authorities say a 10-year-old girl has died in a southwest Missouri shooting that appears to be accidental.... More >>
22 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 12:01:13 PM CST in News
Columbia, MO
Broken Clouds 37°
11am 42°
12pm 45°
1pm 48°
2pm 49°

Select a station to view its upcoming schedule:

Coming Up Next

7:00a
Today
11:00a
Rachael Ray
12:00p
KOMU 8 News @ Noon
10:00a
Jerry Springer
11:00a
Jerry Springer
12:00p
Jerry Springer

Tonight's Schedule

7:00p
Blindspot
8:00p
Law & Order: Special Victims Unit
9:00p
Chicago P.D.
7:00p
Arrow
8:00p
Frequency
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld