Increase in Iowa Home Sales, Inventory in September

The Iowa Association of Realtors reports a 5.9% increase in the number of homes sold in September compared to the same month a year ago.

Travis Bushaw, the president of the Iowa Association of Realtors, said even though the interest rate on a 30-year mortgage is actually higher than it was a year ago, buyer confidence appears higher due to five straight months of rate reductions, a slower rise in home prices and a continued increase in inventory.

Compared to September of last year, there were 13.6% more Iowa homes for sale last month. And that year-to-year comparison shows the average number of days a home is on the market was 25% higher in September. The median sales price for an Iowa home in September was about $245,000. That’s slightly lower than it was in August.

Details of Iowa Association of Realtors report here.