Home sales up, prices down in Iowa - KWWL - Eastern Iowa Breaking News, Weather, Closings

Home sales up, prices down in Iowa

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CLIVE (KWWL) -- A report released today from the Iowa Association of Realtors, home sales in Iowa were up in October, while the average sale price was down.

Home sales in Iowa totaled 2,822 in October 2009, up .2% from October 2008 when 2,815 homes were sold.

The average sale price in October 2009 was $136,560, down 4.4% from $142,810 in October 2008.

Home sales and prices were both down when you compare October 2009 to September 2009.  Sales were down 4.9 in October compared with September, while prices were down .3%.

Homes in Iowa were on the market an average of 99 days in both September and October of 2009.  That is down one day from October 2008.

The IAR believes October sales were down because buyers were waiting to see what happened with the First-Time Home Buyers Tax Credit.

Carey Jensen, president of the IAR says, "Now that the tax credit has been extended for first-time home buyers and expanded to include current home owners as well, we are confident that inventory will continue to move, and that more and more people will be able to realize their home owning dreams.  The next six months will likely be a time of great activity in the housing market here in Iowa.  We anticipate more first-time home buyers will be entering the market, and that many current homeowners will take advantage of this great incentive to move up."

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