Housing in St. Louis undervalued, Trulia says

The St. Louis skyline as seen from across the Mississippi River | Courtesy of Bryan Werner/Flickr
The St. Louis housing market has seen a 6 percent increase in asking prices over the last year. | Courtesy of Bryan Werner/Flickr

Even with an almost 6 percent rise in asking prices over the past year, homes in the St. Louis area are still 11 percent undervalued, according to real estate monitoring website Trulia.

The website’s chief economist, Jed Kolko, compares local incomes and home rental rates with home prices in the area to determine whether a housing market is generally over or undervalued. Trulia monitors housing bubbles and compiles rankings of the most overvalued and undervalued home markets in the country as well as providing links to real estate listings.

Read more from the St. Louis Post-Dispatch

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