CBG's Real Estate Outlook

The Best Cities  to  Buy a Home Right Now – St. Louis Ranks in the Top 10

St. Louis was ranked tenth in the top ten cities to buy a home right now according to Realtor.com. The best places to invest in real estate was determined on sales data, inventory trends and the job market. If you are looking to buy or relocate to St. Louis, you’ll find that the area has a lot to offer. 

“A lot of what we read is national but you have to take housing down to the local level and look at the reasons why a market may be turning around, may be a good place to buy,” says Steve Berkowitz, chief executive of Realtor.com.

Forbes.com,  April 12, 2012

Buyer  Urgency  Improves,  More  See  Now  Good  Time  to Buy

More home buyers may jump off the sidelines this spring as they get more urgent about purchasing a home, fearing that home price and mortgage rate increases are on the horizon. Housing surveys in recent weeks have shown that more Americans are seeing now a great time to purchase a home.


 In the most recent survey, 73 percent of Americans say now is a good time to buy, according to the latest Fannie Mae Housing Survey conducted in March. That’s up from 70 percent in February who said it was a great time to buy. 


"Conditions are coming together to encourage people to want to buy homes," says Doug Duncan, Fannie Mae’s chief economist. "With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that home ownership is a more compelling housing choice."

 Daily Real Estate News, April 11, 2012

March  Pending  Home  Sales  Rise,  Market  Recovering

Pending home sales increased in March and well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.


Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing.  “First quarter sales closings were the highest first quarter sales in five years.  The latest contract signing activity suggests the second quarter will be equally good,” he said. 


“The housing market has clearly turned the corner.  Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

Daily Real Estate News,  April 26, 2012

Report from Coldwell Banker Gundaker Real Estate Outlook