WEST DES MOINES, Iowa -- February's cold weather and another interest rate hike are catching blame for slowing Iowa home sales.
The Iowa Association of Realtors says there's a nearly 25-percent drop in sales last month compared to February of 2022.
They say the eighth interest rate hike by the Federal Reserve has potential homebuyers taking their time as they examine the housing market in Iowa.
The association also says the number of homes listed for sale in February was down almost 22 percent from the same time a year ago.
They say days that houses for sale spent on on the market increased to 52 days in February, compared to 48 days last month and 46 days in February last year.
Median prices for houses that sold last month increased just over seven percent year-over-year to $197,000.
The Iowa Association of Realtors say there's optimism there will be a rebound in homes sales in the spring.