Housing market happenings in eastern Iowa - KWWL - Eastern Iowa Breaking News, Weather, Closings

Housing market happenings in eastern Iowa

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WATERLOO (KWWL) -- The Commerce Department reports construction of new homes and apartments rose 8.9 percent last month. Good weather helped offset a dip in October, although the November increase was slightly lower than economists had expected.

In Black Hawk County new construction permits are down for 2009. The median price of a home has increased from $116,000 to $120,000. Local realtors say for the most part eastern Iowa has been sheltered from the poor housing market.

"We've been very lucky here, our area... I always tell my clients that we're kind of in a happy bubble in Black Hawk County what's going on in the rest of the nation is not happening here. We don't have the foreclosures. We have people with good jobs and good credit and they can purchase," said Broker/Owner Remax Home Group.

Area realtors also say they seeing fewer homes being put on the market. Right now there are around 1,000 homes for sale in Black Hawk County, last year at this time there were around 1,500.

Online Reporter: John Wilmer

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