Cape Girardeau, MO-IL Federal Housing Finance Agency Home Price Index (FHFA HPI)

Cape Girardeau, MO-IL is a city located in the southeastern corner of Missouri. The city is situated along the Mississippi River and is home to a population of just over 37,000 people. The Cape Girardeau metropolitan area has a population of approximately 150,000 people.

The Cape Girardeau housing market has been strong in recent years, with home prices rising steadily. The median sales price for a home in the city was $142,000 in 2017, up from $131,000 in 2016. The Cape Girardeau metro area had a median sales price of $153,000 in 2017.

The rise in home prices has been driven by strong demand from buyers and limited supply of homes for sale. The number of homes sold in the Cape Girardeau metro area increased by 9% in 2017, while the number of listings decreased by 7%. This has resulted in increased competition among buyers and put upward pressure on prices.

The tight housing market has also been fueled by low interest rates and strong job growth in the region. Unemployment in the Cape Girardeau metro area was just 3.4% as of December 2017, down from 4.0% a year earlier. Job growth has been particularly strong in the leisure and hospitality sector, which added 1,200 jobs between December 2016 and December 2017.

As home prices have risen, so too has equity for homeowners in the Cape Girardeau metro area. According to data from CoreLogic, the average homeowner had $33,000 in equity as of September 2017, up from $28,000 a year earlier. Homeowners with mortgages had an average loan-to-value ratio (LTV) of 73%, meaning they had 27% equity stake in their homes on average.