Home sales and prices continue to rise across Iowa. A report from the Iowa Association of Realtors (IAR) shows 4,998 homes were sold across the state last month. That’s up from 4,817 home sales in June of last year.
IAR President Ken Clark says home sales in the state over the first six months of the year were up 4.6 percent compared to the first half of 2015. “A lot of that is attributed to the tightness of the market,” Clark says. “The number of homes for sale is as limited as I’ve seen it for a long time and the demand is as high as I’ve seen it for a long time.” That’s led to rise in home prices in Iowa.
The median sale price for a home sold last month was $156,000 as compared to $153,000 in June of last year. Iowa is mirroring the nation’s housing market — as homes are selling quicker, with rising prices, and low inventory across the country. But, Clark say the Iowa housing market is not as volatile. “We’re very blessed in Iowa that when prices go up, they usually go up in a very orderly manner. And when they go down, they don’t go down as dramatically as in other areas,” Clark said.