The Iowa Association of Realtors report for July shows sales were up just over 18-percent. Association president, Don Marple, says more people decided it was the time to move their homes.
“Homes available for sale have gone up a little bit, which is gonna be great because people are understanding that the market is going to be better to be out there and selling their homes right now. Prices have gone up almost 11-percent from last year…we just can’t ask for a better market right now,” Marple says.
The report says nearly 4,100 homes sold or closed in July, with the average sale price of 168-thousand-823 dollars. July is normally the time of year when sales pick up as people are looking to move before school starts again in the fall. Marple says some of the uptick can be attributed to that, but not all.
“It is better compared to the last two or three years. Some of our numbers are showing that our market right now is better than in 2005,” Marple says. Interest rates moved up a little bit in the last month, but Marple says that was probably a positive for the housing market.
“Well if anything, it might have spurred people to say ‘hey we need to get into the market now, we’ve been so low, let’s get it while we can,'” according the Marple. The final quarter of the year is here and Marple says the overall real estate picture should shape up to be a good one.
“With the pendings so high in July, it just looks like it is going to be great,” Marple says. “And I see nothing but the market increasing every month, and the values increasing every month. Everything is just positive for this year into 2014.”
The report from the Realtors Association says sellers on average received 96.2% of the price they asked for their homes. Marple says that’s an indication of the tight supply of homes on the market as he says the list price received at sale has not been consistently above 96% since the summer of 2007.