05.06.2008 11:38 am

Home-price index falls 2% in first quarter

St. Louis Post-Dispatch

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Zillow.com’s home-price index for the St. Louis area fell 2 percent in the first quarter and 5.2 percent in the latest 12 months, the real-estate data firm said today. Its numbers paint a considerably bleaker picture than the latest government report, which showed prices rising last year in St. Louis.

Zillow also provides price estimates by city and neighborhood. In the St. Louis suburbs, it has prices falling by 3.5 percent year-over-year in Belleville, 8.3 percent in Clayton and 15.8 percent in University City. Among the 12-month gainers are Glen Carbon, up 0.5 percent, and Maplewood, up 3.9 percent.

For housing data geeks, Zillow v.p. Stan Humphries explains the differences among various home-price measures.