HUGE increaes in activity

The number one item reported by Realtors in the area is a large increase in traffic.  People are writing contracts, they are visiting open houses, homes are starting to sell under their average days on market.  First time homebuyers are becoming aware of the available tax credit.  And individuals with decent credit realize they can get a loan.

Inventory

The spring buying season seems to finally have heated up.  If you review the inventory for most larger zip codes you’ll see steep declines in inventory.  Ballwin , MO 63021 Single Family Homes for example had 350 homes for sale as for 1/1/2009.  Today, that number is down to 274!  This is a state carried through numerous zip codes.

Price

The most interesting trend?  Prices are really trending up.  Places where prices were stagnant, they are going up.  Places where prices were down, are up.   (The only places this is not being seen is in North St. Louis county.)

Market Action

What will be interesting to see is how market action changes over the next few weeks.  As inventory trends down and prices trend up this should have a good effect on total market sentiment.