Missouri Home Sales Jump in May

By Missourinet

Published 06/30 2014 09:03AM

Updated 06/30 2014 09:08AM

JEFFERSON CITY, Mo. -- National studies say that people are staying in their homes longer than they used to-a median of nine years now, compared to six years from 2000 to 2008.

 The Missouri Association of Realtors says those who’ve made a move, however, have done pretty well this spring.

Home sales in Missouri have topped one billion dollars in a single month for the first time this year, with sales in May exceeding April sales by more than twenty percent.

The organization says a lot of people market homes in the Spring. Many wait until the end of a school year to move so children don’t face a mid-school year disruption.

Vice-President Katie Essing says about 37,000 homes went on the market in May. The average price of the almost-6,800 homes sold topped $171,000, up ten percent from April.   The average time on the market has been shrinking. 

 AUDIO: Essing  

Total sales in May were $1.162 billion, the first time sales have exceeded one-billion dollars since last August.

(Bob Priddy, Missourinet)

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