A new report shows more Iowans bought homes in November compared to one year ago.
The Housing Trends Report from the Iowa Association of Realtors (IAR) shows 3,012 homes were sold across the state last month, a nearly 15-percent increase over November 2015.
IAR president Cindy Miller of Burlington gives credit to the unusually mild weather across the state this fall.
Despite all the snow and extreme cold this month, Miller expects housing sales for December will be up as well. She notes it takes roughly 45 days to close on a home, so sales completed this month started with offers in October or November.
Miller says another reason home sales continue to rise in Iowa is mortgage rates remain at relatively low levels. “There still running at 4.0 or 4.25 percent, so that’s still great,” Miller said. The median sale price of a home sold in Iowa last month was $148,000. That compares to $140,000 in November 2015.