Realtors expect housing market to heat up during summer months - KWWL - Eastern Iowa Breaking News, Weather, Closings

Realtors expect housing market to heat up during summer months

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CEDAR FALLS (KWWL) - April showers bring May... "sold" signs?

As spring takes a turn into summer, so does the housing market, with local realtors expecting to see a positive trend over the next few months.

Financial experts say April was one of the better months for real estate since winter, and believe the 2013 housing market recovery is finally complete.

The now-warmer temperatures draw the home buyer out of the woodwork, as the exceptionally harsh winter last year deterred many buyers from wanting to be out and about.

There are also more homes on the market, which means more properties for real estate agents to sell and a wider selection for the buyer. Economists say the near record-low mortgage rates make home buying more attractive, too.

According to the Iowa Association of Realtors, there were 2,732 property sales in the state last month. The average price of a home was recorded at $152,786. April reported more than 18,000 active listings, up nearly 2 percent from last year.

Local realtors hope to see even more properties being pumped into the market, in both immediate and surrounding areas.

"New Hartford and Waverly and Dike and those areas, we'll see a resurgence of activity as people return to the market as their job situation continues to improve and the local economy," said real estate agent Steve Burrell.

Burrell said he sees gradual growth locally rather than market spikes. Because of that trend, there aren't as many severe market drops.

Along with weather, inventory and market confidence, Iowa's unemployment rate dropped to 4.3 percent in April. According to Iowa Workforce Development, the state added more than 5,000 jobs last month.
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