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(Undated) -- Iowa home sales are down 15-percent compared to last year. The Iowa Association of Realtors says there was a 17-percent drop in the number of homes for sale last month. Medan sales prices are up two-percent over last year, at just over $235-thousand dollars statewide. The realtors say higher borrowing costs continue to be a factor in the decline in home sale activity.
The Iowa Association of Realtors says there were 4,225 homes listed in June, compared to 5,072 homes on the market one year ago. The month-to-month stats for June showed some progress, though small, with available homes representing a 4.8% increase from the inventory available in May.
There were 4,429 homes sold in June 2022, 21-percent more from the 3,102 homes sold in May, but below last year's numbers.
Pending sales were down 22.3% decrease from June 2022.
The days on the market increased year-over-year to 36 days compared to the 25 day average of June 2022. More recently the average days on market decreased from the average 41 days of May. Median sales prices increased 2.2% year-over-year to $235,125.