KWWL.com - News & Weather for Waterloo, Dubuque, Cedar Rapids & Iowa City, Iowa | Midwest home sales post 26 pct annual increase
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KANSAS CITY, Mo. (AP) -- Home sales in the Midwest surged in October as first-time home buyers sought to beat the initial deadline for a federal tax credit and difficult market conditions last year made comparisons favorable.
The National Association of Realtors says there were 111,000 resales in the Midwest, up 26 percent from October last year and the best showing in the country. The median sale price for the region rose 1 percent -- also leading the country -- to $146,600.
In Iowa, Des Moines posted the biggest sales gain with a jump of over 39 percent from a year ago. But the median price declined about 5 percent year-over-year to $144,000.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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