Iowa Home Sales and Prices Rose in April

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CLIVE, IA (05/10/2013)(readMedia)-- The latest report from the Iowa Association of Realtors® indicates that home sales and prices rose in April.

The IAR's April 2013 Housing Trends Report shows that sales climbed 6.1 percent from April 2012. A total of 2,851 homes sold/closed last month, while 2,688 homes sold/closed last April.

The median sale price across Iowa rose by 3.2 percent from $124,000 in April 2012 to $128,000 in April 2013. The average sale price also increased by 1.4 percent. The average sale price was $144,813 in April 2012 and $146,885 in April 2013.

Days on the market continued to decrease, dropping 12 days or 10.8 percent from last year. The average number of days on the market in April 2012 was 111 days, while the average in April 2013 was 99 days.

The number of homes on the market across the state at the end of the month was 18,331, down 13 percent from April 2012 when the statewide inventory was 21,061 homes. The months' supply of inventory (MSI) was 6.2 months, down 20.9 percent from last April when the MSI was 7.8 months.

Most of the numbers we track continue to show positive movement, says Don Marple, president of the Iowa Association of Realtors®. "We have had 14 continuous months of year-over-year positive price growth in both the median and average sale prices," Marple states.

"Although inventory levels did increase slightly in April from the prior month, more homes are still needed on the market to keep up with demand right now," he explains. "For those who may be considering selling their home, now is an ideal time to list with a local Realtor®. Prices have rebounded, plus interest rates are still low, making homeownership affordable for many Iowans."

"The Iowa Association of Realtors®, the Iowa Finance Authority and the Iowa Home Ownership Education Project are partnering to offer free educational sessions explaining many of the great programs available to Iowa home buyers," says Marple. The seminars entitled, Free Home Buyer Education Series: Unique Iowa Programs & Information to Get You Started, will be held in cities across Iowa and are free and open to the public. "We are hoping to reach as many Iowans as possible with this valuable information about programs to help them achieve their home owning dreams." For more information and to register visit IowaFinanceAuthority.gov/Registration.

The information used to create the IAR April 2013 Housing Trends Report was current as of May 10 at 8:30 a.m. The information is subject to change due to the dynamic nature of the IAR's housing statistics system, which is updated hourly based on information present in local participating MLS (multiple listing service) systems.

The term Realtor® is a registered trademark, which identifies real estate professionals who follow a strict Code of Ethics as members of the National Association of Realtors®. This year marks the 100th Anniversary of the Code, which was the second of its kind when it was established back in 1913.

The Iowa Association of Realtors® is the state's largest real estate professional organization representing nearly 6,200 members and affiliates. The IAR releases a Housing Trends Report each month. Data is collected from local Realtor® boards through their multiple listing service (MLS), which tracks sales activities in the board area. IAR compiles all of the local board data into the statewide report each month. Reports are available online to IAR members and affiliates with a login and password. Anyone is eligible to become an IAR affiliate. For membership information, visit www.iowarealtors.com.