MO home sales increase 5% in June

Missouri Realtors sold 6,084 homes in June, a 5 percent increase compared to 5,799 in the same month of the prior year.

During the month, the average home price was $158,101, up from $150,583 in June 2011, according to the Missouri Association of Realtors' latest home sales report.

The median home price rose 7.6 percent year-to-year to $129,075 from $120,000. June is the fifth month the median price has increased compared to the previous year, and for three of those five months, gains were between 5 percent and 10 percent.

Homes sold in June were on the market an average of 134 days, four fewer than in the same month of 2011.

According to the release, 37,963 homes were on the market during June, and of those, 16 percent had been sold but hadn't closed by June 30.

The release pointed to Freddie Mac data showing the national average for 30-year, conventional fixed-rate mortgages set a record low in June at 3.68 percent. The National Association of Realtors has predicted little movement in the average for the rest of 2012.

[[In-content Ad]]