home sales

(Flickr/Jessica Perdue)

Following a two-year recovery in the housing market, the National Association of Realtors’ chief economist expects sales to level off.

"Right now there are two opposing forces; higher mortgage rate anticipation, which is always a negative, and more job creation, which is a positive." said Lawrence Yun, "So, I think it will be a more neutral year in terms of home sales."

Yun spoke to members of the St. Louis Association of Realtors Thursday morning. His key points for this market:

(via Flickr/woodleywonderworks)

The value of homes in the St. Louis region continues to increase.

The St. Louis Post-Dispatch, citing data released Tuesday by the real estate analysis firm CoreLogic, reports that St. Louis-area home prices rose 5.6 percent in July from a year earlier.

For homes not facing foreclosure or already foreclosed on, the increase was 5.9 percent.