February home sales in St. Louis area dip

ST. LOUIS (AP) — The housing market continues to struggle in the St. Louis area.

The St. Louis Post-Dispatch reports that home sales in February declined 12.7 percent compared to February 2010 for the 11 counties tracked by the newspaper. Meanwhile, the median price fell in much of the region.

Real estate experts say tight credit and the weak job market are keeping buyers away, and the glut of foreclosures is causing prices to drop. Many economists expect the housing market to struggle through the rest of the year.

Information from: St. Louis Post-Dispatch, http://www.stltoday.com


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