“It’s difficult to imagine, but it’s where we’re at now,” Adler said.
Home sales are up statewide and nationwide as well.
The average sales price of a home in Missouri grew 22% to $261,341 compared with May 2020, as the state saw 27% more sales, according to Missouri Realtors.
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Missouri homes also spent just 28 days on the market in May, three weeks less than in 2020, data shows.
U.S. single-family home sales increased 39% year over year in May as the median existing single-family home price grew 24% to $356,600, according to the National Association of Realtors.
Homes stayed on the market an average of 17 days across the U.S., down from 26 days in May 2020. The association said 89% of homes sold in May 2021 were on the market for less than a month.
Bridget Forbes, also of Berkshire Hathaway, said it’s never been more of a seller’s market than now.
“If you have a difficult home to sell — it’s on a busy street or it has an odd floor plan — it’s definitely your year to do it,” Forbes said.
She said the historically low interest rates are driving people to buy.
The national average rate for a 30-year, conventional, fixed-rate mortgage was 2.96% in May, according to Freddie Mac. In 2020, the average rate was 3.23%.
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