HOME SALES: Iowa Home Prices Increasing
The confidence of the consumers is totally coming back, and it's being reflected in what's happening in the home sales.It’s no longer just a buyers' market as homeowners are seeing the perks of an improving economy.Iowa isn't following the national trend, here, home prices are going up, it’s an encouraging sign for Iowa's housing market.Last month, nearly 3/4th of Iowa's Realtor Boards reported a jump in the median home sales price.The largest increase was in the Quad Cities area, up 12 percent from the year before.Permits for new home construction are up even higher, a 16-percent increase from last year.The Iowa Association of Realtors says the only concern for the housing market is the amount of time homes are up for sale.Last year homes sold in an average of 116-days. This year it’s taking about five days longer.