MO Realtors sell less homes in October

Missouri real estate agents sold fewer homes in October, representing the first month in more than two years that year-to-year gains weren't reported.

During October, real estate agents sold 5,259 homes in the Show-Me State, a 2.7 percent decrease compared to the 5,404 homes sold during the same month of 2012, according to the latest sales data report issued this week by the Missouri Association of Realtors.

However, the Missouri homes that were moved off the market last month were sold at a quicker rate. Homes sold in October sat on the market for 7.5 percent fewer days, down to 124 days from 134 a year before, according to a news release.

The average price of Missouri homes sold in October increased 10 percent to $156,810, compared to $142,581 in the same month of 2012. The median price of $128,500 represented a 9.8 percent gain from $117,000 in 2012, the MAR reports.