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WEST DES MOINES, Iowa -- A year of rising interest rates is having an effect on Iowa home sales.
The Iowa Association of Realtors says last month's home sales were down about 30 percent compared to November of 2021. They say, year-to-date, sales are down about nine percent.
The Association says sales prices were essentially flat in November of this year, at $191,000 compared to $192,000 in November of 2021.
Iowa Realtors say the number of homes for sale this year appears to have finally started trending upward since the low count of 5,200 homes for sale in April and May. They say November inventory levels were close to 6,900 homes for sale bucks a trend of decreasing inventory ever since pre-COVID years.
Finally, they say the average number of days for single-family homes on the market continue to be around 32 days. Realtors say it's a good sign that buyer activity is remaining strong.