The Saint Louis real estate market is showing signs of solid improvement, with home sales increasing dramatically and foreclosures remaining relatively static. According to a May 25, 2010 article in the Saint Louis Post-Dispatch, “St. Louis-area home sales surged in April for the second straight month, as buyers took advantage of rock-bottom interest rates and the expiring $8,000 tax credit. Sales were up 25 percent compared with the same month last year, according to data compiled by the Post-Dispatch, and prices climbed across much of the region, a sign that foreclosures are making up a smaller share of the housing market.” The piece, written by Tim Logan, continued to note that “The news comes on the heels of a 22 percent bump in March, and it echoes a trend being seen across the country. The National Association of Realtors said Monday that sales were up 22.8 percent from the same month last year, and rose 7.6 percent from March on a seasonally adjusted basis.”

The Saint Louis real estate market also recently benefitted from a spike in construction downtown, according to a May 28, 2010 article from the Saint Louis Business Journal. This piece found that “Three former Pyramid properties – The Laurel, One City Centre and St. Louis Centre – have closed on financing since the start of the year, totaling $243 million in redevelopment. Add to that The Lawrence Group’s $109 million Park Pacific redevelopment, which closed on financing in April, and it totals $352 million in redevelopment downtown.” The piece, written by Lisa R. Brown, continued to say that “Combined, the projects will create more than 1,600 construction jobs and set in motion the biggest construction boom downtown has seen in several years.”

The effect of foreclosures on Saint Louis homes for sale remained static throughout the month of March, according to a May 7, 2010 article in the Saint Louis Post-Dispatch. This piece, written by Tim Logan, continued to say that “A troubling trend continued in March. The share of St. Louis-area mortgages that are at least 90 days behind, already at record levels, notched up yet again, hitting 6.22 percent, according to real estate data firm Core Logic.”

Located just outside of Dallas, Texas, Fort Worth has faced its fair share of real estate problems, similar to that of Dallas.  Many real estate experts have noted that the Dallas-Fort Worth region has been plagued by sluggish real estate activity and low median sales prices.  However, recent months have shown that some neighborhoods throughout the region are showing improvements in both home sales and median sales prices.  Nevertheless, the Fort Worth real estate market has shown inconsistent fluctuations, making it difficult for real estate experts to find any trends in the Fort Worth real estate market and determine when the Fort Worth real estate market will begin a full recovery.

According to The Dallas Morning News, many real estate experts and local realtors have found 2009 to be a strange year for the Fort Worth real estate market due to the inconsistency of the market and inability for experts to find and trends to determine the path the market will take in the coming months.  Many realtors believe that one of the main obstacles to the recovery of the Fort Worth real estate market is the lack of consumer confidence, despite favorable interest rates, negotiable sellers, and already discounted home prices.  Many people expect the job market in the area to rebound in 2010, hopefully bringing an increase in real estate activity along with it.

The Dallas Morning News has also reported that the commercial real estate in Fort Worth is also suffering from the highest vacancy rates in the decade, with only 86.4 percent of total retail space leased.  There are also very few retail development projects planned for the 2010 year.  Many commercial real estate experts are telling people to expect another year of struggles of the Fort Worth commercial real estate, as it might take five years for the commercial real estate market to correct itself as opposed to the typical two-year cycle.  Financial analysts also estimate a total of about $4.5 billion worth of distressed commercial real estate suffering from delinquency, default, bankruptcy, or foreclosure.