Missouri Housing Market Analysis: The Last 16 Quarters in Data

Missouri home prices rose 20.7% over the last 16 quarters, climbing from an index level of 474.6 in Q3 2022 to 572.8 in Q2 2026, according to the FHFA All-Transactions House Price Index for Missouri. The pace has cooled, though: year over year growth stands at 3.6% in Q2 2026, the slowest reading anywhere in the window. The statewide median listing price sits at $306,633 per Realtor.com's median listing price series retrieved through FRED, and active inventory has swelled to 18,708 homes, up 48.8% across the same 16 quarters based on Realtor.com's active listing count. So prices keep grinding higher while the number of homes for sale has grown by nearly half. That tension is the story of the Missouri market right now, and the numbers below lay it out quarter by quarter.

How Missouri Home Prices Have Moved

In Q3 2022, the Missouri index was still posting 14.5% annual growth, the tail end of the pandemic run-up. Then it wobbled. The index slipped from 474.6 to 473.3 in Q4 2022, the only quarterly decline in the entire four-year window. From there the climb resumed, steady rather than dramatic: 479.8 in Q1 2023, 498.8 by Q2 2023, and a new high in every quarter since, ending at 572.8 in Q2 2026.

The annual growth rate tells the cooling story more clearly than the index itself. It fell from 14.5% in Q3 2022 to 10.9% in Q4 2022, then 8.7% in Q1 2023, then 6.3% by mid 2023. Through 2024 it settled into a band between 5.2% and 7.0%. In 2025 it stepped down again: 5.7% in Q1, 4.6% in Q2, 4.5% in Q3, 4.2% in Q4. The latest reading, 3.6% for Q2 2026, is the softest of the whole period.

What the index never did was turn negative. Missouri has not recorded a single quarter of year over year price decline in these four years. That deceleration also played out against expensive borrowing: the Freddie Mac 30-Year Fixed Rate Mortgage Average went from 5.62% in Q3 2022 to a peak quarterly average of 7.30% in Q4 2023, and still averaged 6.41% in Q2 2026. Prices kept rising through all of it, just more slowly each year.

What Homes Are Listed For

Asking prices tell a flatter story than the transaction-based index. The median listing price in Missouri was $282,329 in Q3 2022, crossed the $300,000 line at $300,302 in Q2 2023, and has mostly hovered on either side of that mark since. The peak was $307,783 in Q3 2025. The latest quarter, Q2 2026, came in at $306,633, just under that high, and the single month of July 2026 printed $309,900.

The growth rate collapsed faster on the asking side than on the closed side. Listing prices were rising 14.3% year over year in Q3 2022 and 14.4% in Q4 2022. By Q1 2024 that was down to 1.5%, and it has stayed near zero since: negative 0.5% in Q1 2025, positive 1.8% in Q3 2025, negative 0.1% in Q2 2026. Sellers, in other words, stopped raising their asking prices about two years before the FHFA index stopped climbing at a healthy clip. There is also a visible seasonal rhythm: medians peak in the second and third quarters and sag each winter, dropping to $277,522 in Q4 2022, $290,867 in Q4 2023, $294,750 in Q4 2024, and $298,267 in Q4 2025.

How Many Homes Are on the Market

Inventory is where the Missouri market has changed the most. Active listings averaged 12,572 in Q3 2022, bottomed at 10,453 in Q2 2023, and have climbed almost without interruption since, reaching 18,708 in Q2 2026. That is a 48.8% increase across the 16 quarters. The quarterly high so far is 19,461 in Q3 2025, and the single month of July 2026 counted 20,121 active listings, the largest monthly figure in the window.

The year over year numbers show how relentless the build has been. Listings grew 48.2% year over year in Q1 2023, then posted double-digit annual growth through nearly all of 2024 and 2025, including 32.6% in Q2 2024 and 32.3% in Q3 2024. Only one quarter in the whole window went negative: Q3 2023, at 1.8% below the prior year. The latest reading, up 7.9% in Q2 2026, says inventory is still growing, just at a calmer rate.

For a seller, the practical meaning is simple. When 10,000 to 12,000 homes were listed statewide, buyers had little to compare against and less room to negotiate. With 18,000 to 20,000 on the market, a buyer who does not like your price, your roof, or your kitchen has plenty of other doors to knock on. Rising inventory does not tell you where prices go next, but it does shift leverage at the negotiating table toward the buyer, and it tends to show up first as longer time on market for homes that are overpriced or rough around the edges.

What Homes Are Worth in Missouri's Largest Cities

Statewide numbers hide a lot of variation, so here is the same window at street level. The table shows the Zillow Home Value Index (ZHVI), a smoothed, seasonally adjusted estimate of the typical home value in the city proper (not the wider metro area), for Missouri's five largest cities as of Q2 2026, with the baseline each change is measured against.

Independence is the strongest of the five right now, with typical values up 3.3% year over year. St. Louis sits at the other end at -0.3%. The quarter-by-quarter city numbers, with the same up and down markers, are in the quarterly reports listed further down this page.

Sales, Supply, and Pending Deals

Prices tell you what homes are worth; transactions tell you whether anything is actually moving. Per the Redfin market tracker (all residential, not seasonally adjusted), completed sales in Missouri averaged 7,221 homes a month in Q2 2026 (down 1.4% from the same months a year earlier), with pending sales running 3,784 a month. The median sale price, what buyers actually paid, averaged $290,950, up 4.9% year over year. At the current sales pace the market holds 2.2 months of supply, which by the common rule of thumb is seller's market territory, and the typical home that sold went under contract in 29 days. Redfin figures for Q2 2026 reflect April and May, the months reported so far; year over year comparisons use the same months a year earlier.

*Partial quarter; see the note above. All change markers compare against the year-earlier baseline shown beneath them.

The Numbers, Quarter by Quarter

What This Means If You're Selling

Equity built since 2022 is real money

If you bought your Missouri house before mid 2022, the index says the market has moved 20.7% in your favor since then, on top of whatever equity you already had. That gain arrived quietly, a few percent a year, and plenty of owners have not repriced their own house in their heads since they bought it. Before you make any decision about selling, it is worth knowing what the current market actually supports, not what a neighbor got in 2021. Missouri's four-year gain also holds up well compared with the national market, which you can see charted the same way on our national analysis page.

More inventory means condition decides which buyers show up

With 18,708 homes on the market against roughly 10,500 three years ago, buyers can afford to be picky, and the first thing they get picky about is condition. A clean, updated house still draws traffic. A house that needs repairs competes badly on the open market when nearly 19,000 alternatives are listed, and it often sits, collects lowball offers, or dies in inspection. The data cannot tell you what your specific house is worth, but it can tell you that the era of any-condition, any-price bidding wars in Missouri ended around 2022, when annual price growth was 14.5% and inventory was scraping bottom.

Two ways to sell into this market

This is where we come in. EZ Time Home Buyers buys Missouri houses directly: you get a written cash offer within 24 hours, we buy as-is so the repair question disappears, there are no fees or commissions, and closing typically takes 2 to 3 weeks. If your house is in solid shape and you have some time, our Retail Buyer Program typically nets more than a typical cash offer while we handle the process. You can see everywhere we buy in Missouri, from Kansas City to St. Louis to Springfield, and decide which path fits your situation.

Quarterly Market Reports

Every quarter in this analysis has its own report page with that quarter's index reading, listing data, mortgage rate, and city values, including the quarters where the story was very different from today's:

• 2022: Q3 · Q4
• 2023: Q1 · Q2 · Q3 · Q4
• 2024: Q1 · Q2 · Q3 · Q4
• 2025: Q1 · Q2 · Q3 · Q4
• 2026: Q1 · Q2

Data and Methodology

• Home price trajectory: FHFA All-Transactions House Price Index for Missouri (FRED series MOSTHPI), quarterly, all-transactions basis.
• Asking prices: Realtor.com Housing Inventory: Median Listing Price in Missouri (FRED series MEDLISPRIMO).
• Inventory: Realtor.com Housing Inventory: Active Listing Count in Missouri (FRED series ACTLISCOUMO).
• Mortgage rate context: Freddie Mac 30-Year Fixed Rate Mortgage Average (FRED series MORTGAGE30US).
• City home values: Zillow Home Value Index (ZHVI), all homes, smoothed and seasonally adjusted, city level, retrieved August 26, 2026.
• Sales, pending sales, months of supply, and days on market: Redfin market tracker (monthly, all residential, not seasonally adjusted); transaction counts shown as monthly averages within each quarter, retrieved August 26, 2026.
• Sales, pending sales, months of supply, and days on market: Redfin market tracker (monthly, all residential, not seasonally adjusted); transaction counts shown as monthly averages within each quarter, retrieved August 26, 2026.
• Monthly series are averaged to calendar quarters.
• Data retrieved August 26, 2026. This page reports historical data; it is not a price forecast or investment advice.