Home sales in Iowa increased in September compared to a year ago, according to a new report from the Iowa Association of Realtors . President Terry Knapp says 62% of the homes sold last month spent 90 days or less on the market.
Knapp says Iowa realtors sold 2,919 homes in September. That’s up from 2,794 in September of 2007. The September ’08 home sale numbers were down 15% from August. Knapp says there are fewer homes on the market, which tells him that many Iowans are waiting for the economy to pick back up.
“The National Association of Realtors interviewed and talked to over 800 economists, and they feel that the housing market is at or near the bottom of the cycle,” Knapp said. “We’re looking for it to pick up and start being a little stronger.” Knapp says the average sale price of an Iowa home rose 11% between August and September.