The monthly report on home sales from the Iowa Association of Realtors showed positive numbers for the month of March. Association vice president, Lyle Holmgaard of Mason City talks about the report.
He says the volume of home sales in March increased by 39% compared to February and the average sale price of homes was up 4% from February. Holmgaard says 44 local boards report on sales.
Holmgaard says the good thing is that the increases are spread out with 21 of the 44 boards reporting increases. Holmgaard says a variety of factors help push up the number of home sales.
Holmgaard says inventory levels have been high, and the price increases haven’t been as big as in the past. so there are a lot of bargains out there, and he says the first-time homebuyers tax credit has helped.
Holmgaard says the numbers are a good sign as the normal spring upturn in home sales hasn’t even started. He says things generally pick up more in late April and May. "This is a good sign here for the overall strength of the market I guess, because it’s happening earlier than normal," Holmgaard says.
The 2009 March report shows three-percent decrease in prices and a 10% decrease in the number of sales from March 2008, prior to the economic downturn.