Industry News

Iowa real estate slowdown deepens

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Iowa home sales fell for the fifth straight month in November as the statewide median home price held steady with its year-earlier level, the Iowa Association of Realtors reported Wednesday. According to statistics, there were 2,692 property sales statewide during November, down 10 percent from a year earlier when 3,013 homes sold. Sales have been falling steadily since July 2006 when 3,797 closings were recorded. The state's median home price at $128,000 was unchanged from November 2005, although it crept up from $109,650 in October. The steepest decline in sales among large metro areas was reported in the Greater Sioux City area where sales dropped 17 percent year-over-year in November to 157, while the median home price grew 11 percent to $98,900. Sales in Waterloo-Cedar Falls were down 14 percent during the period, falling to 163, and the median home price sank 6 percent to $94,000. Greater Davenport also saw a 14 percent drop in sales from a year ago, posting 173 sales in N...