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Facts & Trends Real Estate

Ruhl&Ruhl Realtors

Summer 2015

Home Sales Strong and Prices Appreciating Record low interest rates fueled a strong first half of 2015 for home sales in our region. Some of our top performing markets were:

Alicia Lillyblade Realtor (563) 459-6404

% Change in Sales Volume

+21% Cedar Rapids Area

+23%

+27% Illinois Quad Cities

Muscatine, Wilton Area

IN THIS ISSUE: page­ 4

Home Prices Continue to Appreciate

page­ 6

Ruhl&Ruhl Realtors Awarded Coolest Places to Work

page­ 6

5 Questions to Ask Before Selecting a Home Service Vendor

page­ 7

New Home Sales Show Modest Improvement

% Change in Prices Metropolitan Statistical Areas 1 Year 5 Year +2.62% +3.39% Cedar Rapids, IA Davenport-Moline+3.71% +6.41% Rock Island, IA-IL +1.93% +9.56% Dubuque, IA +2.38% +6.63% Iowa City, IA

Last Chance to Refinance

alicialillyblade@ruhlhomes.com

alicialillyblade.ruhlhomes.com

year through March 2015. A complete chart is located on page 4.

Some of our weaker markets were: Months of Inventory

24.2

Galena & Galena Territory

16.9 Galesburg Area

Results in all 14 of our market areas are shown on the Regional Real Estate Activity Chart on page 2. As always, there is considerable variation from market to market.

Forecast for Second Half of 2015 We expect home sales to remain strong. However, year over year the increase will not be as great as the first half of 2015. This is because the first half of 2014 regional sales were down 4% compared to 2013. The second half of 2014 was up, so we will be comparing the second half of 2015 to stronger second half 2014 results.

Home Prices Continue to Appreciate

Home prices continue to appreciate in most of our metro areas. Statewide in Iowa, prices were up 2.40% year over

Mortgage interest rates have been volatile with the Greek financial crisis, but rates are still great, hovering in the following ranges: Conventional Fixed 15-year (no points)...........................3.375% Conventional Fixed 30-year (no points)...........................4.000% FHA/VA.........................................3.875%

“We expect home sales to remain strong. However, year over year the increase will not be as great as the first half of 2015” ~ Caroline Ruhl

President, Ruhl&Ruhl Realtors

Federal Reserve Chairwoman Janet Yellen is stating rates will go up by the end of the year. But we’ve heard this for a couple of years, so who knows? We do know rates will rise eventually. Hopefully growth in employment and the subsequent drop in the unemployment rate will lead to wage growth and increasing incomes, and this will take some of the sting out of any rate increase.

Alicia lillybladefacts and trends summer 2015  
Alicia lillybladefacts and trends summer 2015