Industry News

Iowa home sales pick up

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Home sales in Iowa grew 11 percent in June compared to the same month last year while prices flattened, the Iowa Association of Realtors reported. Realtors reported 4,493 sales in June, up from the year-earlier total of 4,040 sales. The overall median price of an Iowa home in June was $128,700, up just 0.2 percent from $128,525 posted a year ago. The median is a typical market price where half of the homes sold for more and half sold for less. Sales in Des Moines, the state capital, rose 9 percent year-over-year in June to 1,219, up from 1,121 in June 2005. The city's median home price dipped 0.1 percent during the period, falling from $149,150 to $149,000. In Cedar Rapids, home sales jumped 45 percent during the same period, rising from 364 to 529, while the median home price sank to $131,000, down 0.7 percent from $132,000 a year ago. The Iowa City area posted 17 percent annual sales growth in June, rising from 405 to 475, as the median home price dropped 1 percent to $158,000. The ...