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 state association of realtors say 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 :30
Total sales in May were $1.162 billion, the first time sales have exceeded one-billion dollars since last August.