Cort Dietz, a real estate broker with Re-Max Realty Café, 2340 N. Truman Blvd., in Crystal City, said buyers are on the sidelines in the St. Louis region due to interest rates and world events.
“If you pay attention to the national news, they’ll tell you that inventories (the number of homes available to purchase) have expanded and the market is more balanced than it’s been in the past. When you look at the national numbers, that is true. In our market inventory levels are actually still about 35 percent below what they were pre-COVID.”
He said there is a 2 1/2-month supply of homes available, which is up from COVID-19 pandemic levels.
He also said there is still a pent-up demand from buyers and even some sellers, who are waiting for lower interest rates.
Dietz said world events, like the ongoing military conflict in Iran, has also affected buyer interest.
“Having that going on in the background is always going to have an effect on us because it’s directly affecting fuel prices and indirectly causing inflation throughout the rest of the economy,” he said. “Overall, listings are lagging on the market, and we’re not seeing the activity level that we would normally see at this time of year.”
With more than 40 years of experience in the real estate industry, Dietz primarily serves Jefferson County along with Ste. Genevieve, St. Francois, St. Louis and St. Charles counties.
He has been a licensed agent since 2013.
Dietz said his experience, along with an 85 to 90 percent referral rate, sets him apart from other brokers.
“We get a lot of repeat and referral business and that’s simply because we have the trust and confidence of our past clients.”
Contact Dietz at 314-623-6200 or by email cortdietz@icloud.com or visit callcort.com