Pent-up demand and low mortgage rates lift St. Louis housing market

Summer is here, and the St. Louis housing market is bopping along at a brisk pace. Up is the number of homes sold compared with last year, as is the median sale price. Down — a good down — is the number of days a house stays on the market unsold. “Credit is still very tight even though the market is much better, and we are very pleased with the first half of the year,” said Jim Dohr, president of Coldwell Banker Gundaker in St. Louis. And yet, there are reasons for concern. While most millennials polled say they want to buy a house, many lack the credit score needed these days to qualify for a mortgage. As a result, the number of first-time homebuyers is down by 25 percent, Dohr said.

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