It seems that St. Louis is getting a lot of national attention currently due to the predictions in our housing market. While some big cities are facing potential stagnation and decline, the St. Louis market is heating up.
The CNN Money Real Estate Special Report article The 10Hottest Housing Markets for 2016 puts St. Louis as the 2nd hottest market. It goes on to state, “Home sales are forecast to rise nearly 9% next year in St. Louis thanks to strong employment and median wage growth.”
Apparently St. Louis has been experiencing an influx of tech jobs over the past several years. In fact, according to research from TEKsystems, an IT consulting firm in St. Louis, more than 25,000 IT jobs opened in St. Louis over the past year.
A recent St. Louis Business Journal article shows this trend is slowing, but there will still be gains in the tech industry in 2016 adding jobs and transferees to the St. Louis area.
Earlier this month Realtor.com published The Top 10 Real Estate Markets to Watch in 2016. Chief economist at Realtor.com, Jonathan Smoke, and his team used past trends and seasonal variations of housing and economic data for the 100 largest markets in the country and put them into a statistical model that predicts future values for home sales and prices. When they identified the markets whose forecasted growth was equal to or better than the U.S. average, St. Louis appeared 2nd on the list.
This fall Crestwood, Missouri appeared in Realtor.com’s article The Hottest of the Hot: What Are the Top 10 ZIP Codes in America? It states, “Homes in these top 10 communities sell four to nine times faster than the national average… Their listings on Realtor.com are viewed three to eight times more often than overall U.S. listings.” Why Crestwood? Well it appears a combination of affordable homes and good-quality schools propelled Crestwood to No. 7 on this list.
So if you are considering buying a new home, you should take advantage of prices before the St. Louis market really gets hot. Is moving on your mind? Contact The Boehmer Team today or visit www.TheBoehmerTeam.com.