According to monthly statistics released by the Iowa Association of REALTORS®, the number of sales in July increased by 38.7 percent, with 870 more sales than last year at this time. The REALTORS® report that 3,118 homes sold/closed in July 2011, while 2,248 homes sold/closed in July 2010.
Prices were up in July as well. The average sales price in July increased by $8,512, which is a 5.9 percent increase from last year. The average sales price in July 2011 was $152,349 and the average sales price in July 2010 was $143,837.
The REALTORS® are cautiously optimistic about the housing market in general, but expressed concern in the report about recent legislative actions such as proposals to increase the minimum down payment requirement for home buyers and proposals to eliminate 30 year mortgages.
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