Home Local News INTEREST RATES AFFECT IOWA HOME SALE NUMBERS

INTEREST RATES AFFECT IOWA HOME SALE NUMBERS

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A YEAR OF RISING INTEREST RATES IS AFFECTING IOWA HOME SALES.

THE IOWA ASSOCIATION OF REALTORS SAYS LAST MONTH’S HOME SALES WERE DOWN ABOUT 30 PERCENT COMPARED TO NOVEMBER OF 2021.

THEY SAY, YEAR-TO-DATE, SALES ARE DOWN ABOUT NINE-PERCENT.

THE ASSOCIATION ALSO SAYS SALES PRICES WERE ESSENTIALLY FLAT IN NOVEMBER OF THIS YEAR, AT 191-THOUSAND DOLLARS COMPARED TO 192-THOUSAND IN NOVEMBER OF 2021.

REALTORS SAY IOWA MAY BE REVERSING A YEARS-LONG LOW INVENTORY TREND WITH A STEADILY INCREASING NUMBER OF HOMES FOR SALE.