Home sales were up 2.3 percent last month and new properties on the market rose 4.6 percent according to the May Housing Trends by the Iowa Association of REALTORS® (IAR).
The Median Sales Price of $169,900 came in 2.6 percent higher than May of 2018.
4,396 homes were sold in May compared to 4,299 in May 2018. The number of days on the market went up slightly from 61 to 66 days.
“We experienced a nice increase in sold properties in May. Also, the overall number of homes on the market increased to over 15,000 which is a 4.3 percent increase from a year ago. This is all setting up to be a busy summer. June is National Homeownership Month. June and July are great months to buy or sell a home! Remember all real estate is local. Reach out to a local Realtor for market conditions in your area,” stated John Goede, President of the Iowa Association of REALTORS®.
June is National Homeownership Month, when we promote homeownership opportunities and financial management as paths to ownership for more Americans. Homeownership Matters is an education and advocacy campaign committed to protecting the dream of homeownership. This initiative provides useful information on real estate, tax and property policies in an effort to inspire homeowners to take action, protecting homeownership now – and for generations to come. The total economic impact of a typical home sale in Iowa is $54,348. The homeownership rate is 70.8% in Iowa compared to the national rate of 64.4%.
The information used to create the IAR May Housing Trends Report was current as of June 15. The information is subject to change due to the dynamic nature of the IAR’s housing statistics system, which is based on data from the local participating MLS (multiple listing service) systems.
The term Realtor® is a registered trademark, which identifies real estate professionals who follow a strict Code of Ethics as members of the National Association of REALTORS®.
The Iowa Association of Realtors® is the state’s largest real estate professional organization representing over 7,200 members and affiliates. The IAR releases a Housing Trends Report each month.
For more information, please contact Mark Gavin, Director of Communications at the Iowa Association of REALTORS® - mark@iowarealtors.com or 515-309-9345.