Iowa Housing Market Levels Out

Mon 11-12-2018

(Spencer)-- The new president of the Iowa Association of Realtors says the housing market in the state has evened out.

John Goede is a Realtor in Spencer and says the most recent numbers available showed September sales dropped by nearly 13 percent compared to last year, but the overall yearly sales are down only one-point-six percent. Goede says the median sale price was up four-point-two percent even though the inventory of homes is rising.

He says agents are using social media more to generate interest in houses — and there’s also a new trend being used.”A coming soon type thing where you actually market the property before it is ready to show to the public.

Interest rates have gone up some this year, but Goede says they are not a point where they will have a big impact.

Goede says the season trend for the rest of the year is for sales to fall off as the weather gets colder. The median sales price for a home was 160-thousand dollars in September compared to 153-thousand-500 in September 2017.