The Current Real Estate Market in Iowa

Over the past few months the market has gone through some transitions. My market studies have proven that the investor and homebuyer are definitely back in the ring to stay. Iowa as a whole has not been hit as hard; we were the last to go into the recession and are one of the first to come out of it. Have you noticed all of the new construction and land being developed?

Through August 1st we have sold and have pending around 8,122 homes. Of which 989 or 12% were foreclosures and 1,326 or 16.3% were new construction.  To put it another way, 640 of the 4,239 active listings are new construction. Many of these homes are barely through foundation stages. This is a big change from 2008 when foreclosures were between 20-25% of sales.

The new construction numbers, foreclosure numbers and the strong demand are pushing values up. We are getting into the fall market and expect to see strong market movement.

Interest rates have risen but the Federal reserve has indicated it will continue its bond buying program. This will help keep interest rates below 5% for the foreseeable future.

Exit Realty as a company has over 20,000 Realtors and we see the market staying strong for the next three years.