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Boone County home sales up 13 percent in 2013

Thursday, January 30, 2014 | 8:12 p.m. CST; updated 7:12 a.m. CST, Friday, January 31, 2014
Construction crews continue to build new houses throughout Columbia. Key housing industry indicators are trending up from the past year, according to the Columbia Board of Realtors' annual home sales statistics for 2013.

COLUMBIA — Key housing industry indicators are trending up from the past year, according to the Columbia Board of Realtors' annual home sales statistics for 2013.

Boone County recorded 2,130 single-family homes sold in the past year, nearly a 13 percent increase from the 1,887 in 2012.

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Sales of newly constructed homes totaled 273 last year, up nearly 44 percent from 2011. The median sales price was $163,000, according to the Columbia Board of Realtors, an increase of 2.6 percent from 2012.

Dave Gerhart, president-elect of the Columbia Board of Realtors, said low interest rates have helped drive the rising numbers.

"The big thing is interest rates," Gerhart said. "As the numbers increase, they put appraisers, home inspectors, title companies and other related industries back hard at work."

The local trends reflect those seen nationally. Lawrence Yun, chief economist for the National Association of Realtors, said in a December news release that the statistical increases are primarily due to job growth, record-low mortgage interest rates and a pent-up demand.

Scott Linnemeyer, president of the residential development firm Beacon Street Properties, said the numbers have resonated in Columbia's real estate industry.

"We've seen an increase in new construction that mirrors the overall sales numbers," Linnemeyer said. "That holds true for all builders. I think everyone experienced a good 2013 and we look forward to an equal or better 2014."


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