Brought to you by:
Des Moines Area Association of REALTORS®
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It’s important to place the current housing market in perspective: 2007 will be the fifth highest year on record for existing-home sales nationwide.
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The average sale price of Des Moines -area homes has steadily increased.
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Average days on market continues to stay well below the high of 96 days earlier this year.
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Active listings remain high, indicating a greater selection of homes in all price ranges.
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Iowa was one of just six states to post higher existing-home sales during this year’s second quarter, increasing 4.1 percent over Q2 2006.
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The Federal Reserve continues to cut its interest rate.
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Ongoing improvement in the mortgage market is favorable for 2008 home sales.
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Nationwide, home sales are returning to fundamentally healthy levels while prices remain steady, reflecting favorable mortgage rates and positive job gains.
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Remember that all real estate is local and naturally large variations often occur within a given area.
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The best advise for consumers is to consult a REALTOR® to learn about local market conditions, as supply and demand can change from one neighborhood to the next.
It is still a great time to buy or sell, don’t let all the media hype fool you. As stated above, Real Estate is based locally. You have to compare Apples to Apples, not Apples to California. Iowa has been one of the few states to maintain a steady real estate market for a number of years.
Brett Fine
RE/MAX Real Estate Concepts
515.314.8673
BrettFine@Remax.net
