The real estate market in Missouri continues to accelerate, with $2 billion in volume sold in May, and homes moving more than twice as fast as they were a year ago. That's according to a monthly statistics report released by Missouri REALTORS® this week. 

The trade association says 10,435 homes were sold in Missouri during the month of May. The total sales volume topped $2 billion and homes sold at a quicker pace in May, staying on the market for an average of 48 days. That’s 52 days less when compared to May 2017. The median sales price continues to rise and was approximately $170,000. That is a 4.3 percent increase compared to May 2017.  

Additionally, interest rates increased in April but continue to remain historically low. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 4.59 percent in May from 4.47 percent in April. By comparison, the interest rate in May of last year was 4.01 percent.

Visit Market Statistics to view a full report of the data presented, including additional resources and information.


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