Industry News

Iowa home sales, prices tumble

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Home sales and prices across Iowa dropped considerably in September from their year-ago levels, according to statistics provided by the Iowa Association of Realtors. Realtors recorded 3,213 property sales last month, down 5 percent from 3,390 in September 2005. The overall median price of an Iowa home sank to $110,000 in September, down 14 percent from both the August and year-ago medians of $128,300. Sales in Des Moines, the state capital, were down 16 percent last month from the same time last year, falling from 1,045 to 882. The city's median home price during the period held steady at $148,500. In Cedar Rapids, home sales were off 5 percent from their year-earlier level, declining from 353 to 335, while the median home price gained 1 percent to $132,900. Sales in the Greater Davenport area dropped 9 percent from a year ago -- 205 last month compared with 224 in September 2005 -- as the median home price slipped 0.8 percent to $128,600. The Iowa Association of Realtors is one of th...