MO home sales rise for seventh straight month

Missouri home sales rose 19 percent to 5,977 in July, the seventh consecutive month of year-to-year increases. In July 2011, 5,014 homes were sold, according to the Missouri Association of Realtors' latest monthly home sales report.

The average price of homes sold increased 4.8 percent to $152,430 from $145,429 in July 2011. The median price moved to $125,000 from $122,500. Home prices, which were $157,838 on average in June, dipped in July - the first month-to-month drop in 2012.

The speed of home sales was relatively flat, dropping to 136 days on the market from 137 days in the same month of the prior year, according to the report.

The report pointed to a recent BankRate.com survey, which showed Missouri recorded the lowest mortgage closing costs in the nation - averaging about $3,000 for a $200,000 mortgage.

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