The latest report from the Iowa Association of Realtors shows home sales are down in Iowa, while the number of homes on the market is rising.
The president of the Iowa Association of Realtors said the strong storms that hit the state in late spring and early summer likely dampened the market. The group’s news release said “sales took a slide” in June. There were 17% fewer homes sold last month compared to June of last year.
There’s been a huge year-to-year jump of nearly 32% in the number of homes on the market. The Realtors say the slight decrease in interest rates and more available homes could spur late summer home sales.
There were 7417 homes for sale in Iowa last month, 4.4% more than in May. Home sales fell 2.3% from May to June, with a total of 3228 home sales completed last month in Iowa.