Statewide Iowa — The Iowa Association of Realtors report for March says the housing market saw some of its normal spring pick up. Association president-elect, Shaner Magalhaes, says it happens every year.
March saw around 34-hundred new single-family listings — which was down about 15 percent compared to March 2022. But that was a nearly 48 percent increase from the listings in February. Magalhaes says the month was positive — despite some continuing issues.
He say the current situation is one that’s easier to deal with than the super hot market they had been in.
Magalhaes says it still remains a sellers market.
He expects more buyers will decide to get in the housing market after deciding that getting a home is better than waiting for a drop in interest rates.
He says they also come to realize that buying builds equity.
Closed sales of single-family homes so far this year remain down 22 percent compared to the same three month period in 2022.
