Iowa home sales and prices rose again in the month of May. Don Marple is president of the Iowa Association of Realtors, which released its latest housing trends report Wednesday at a board of directors meeting in Moravia.
“Home sales rose another 10-percent from last year at this time,” Marple said. “An additional 369 more homes sold this May than last year, for a total of 3,906 homes sold in the month of May.”
The average sale price for an Iowa home purchased last month was $161,962. That marks a 6.9% increase over May 2012. One concern for Iowa’s housing market is the statewide inventory of homes for sale, which decreased 11.2% from last year.
However, Marple notes new active listings increased by 10% — with nearly 6,000 new homes placed on the market in May compared to April. Homes were on the market an average of 94 days last month, down from an average of 103 days a year earlier.