Emilie Blindt Facts & Trends - Spring 2013 by Ruhl&Ruhl REALTORS

2311

Emilie Blindt Realtor 1100 Fifth Street, Ste. 201 Coralville, IA 52241 319.936.2073 EmilieBlindt@RuhlHomes.com EmilieBlindt.RuhlHomes.com

116 East Washington Street â&#x20AC;˘ Washington, IA 52353 Check Us Out Online At:

2013 Regional Real Estate Activity Chart Through March

Average 2013 Sales Price

% Change in Average Sales Price from 2012

$100,200 $161,300 $83,900 $170,900 $143,500 $143,700 $183,200 $100,100 $164,800 $180,700 $114,100 $124,300 $102,800 $77,200

+7% +8% -10% +12% +23% -3% +16% +1% -4% 0% +30% +16% -11% -26%

Burlington Area Cedar Rapids Area Clinton/Camanche/Fulton Des Moines Area DeWitt Dubuque Area Galena & Surrounding Area Illinois Quad Cities Iowa Quad Cities Iowa City Area Maquoketa/Preston/Bellevue Muscatine/Wilton Area Southwest Wisconsin Washington Area Summary continued from page 1

2013 Number Sold

105 713 67 1,651 14 140 19 382 454 345 28 113 91 24

% Change in Number Sold from 2012

+12% +12% -33% -1% -39% -2% +27% +8% +18% +1% +8% +20% +36% -14%

$10,523,400 $115,030,100 $5,623,200 $282,176,300 $2,009,700 $20,118,000 $3,480,300 $38,242,800 $74,820,700 $62,349,400 $3,193,500 $14,049,200 $9,356,700 $1,851,600

the first quarter of 2013.

volume was up 11%, an increase from $253,131,900 in 2012 to $282,176,300 in 2013.

Listing Inventory: There was a 3% increase in properties listed for sale in the Clinton, Camanche and Fulton area; comparing 298 current listings to 289 properties for sale at the same time last year. Properties Sold: 33% fewer properties sold and closed in the first quarter of 2013, a decrease from 100 sales in 2012 to 67 sales in 2013. Average Sales Price: The average sales price through March 2013 was $83,900, a 10% decrease from the average sales price of $92,900 through March 2012. Residential Sales Volume: Sales volume decreased 39%, from $9,287,800 in the first quarter of 2012 to $5,623,200 in the first quarter of 2013.

Listing Inventory: DeWitt’s listing inventory is down 25%, from 52 properties listed for sale at the same time in 2012 to 39 properties currently for sale. Properties Sold: 14 properties sold and closed during the first quarter of 2013, compared to 23 sales in 2012, a 39% decrease. Average Sales Price: The average sales price of homes sold through March 2013 was $143,500, 23% more than last year’s average sales price of $116,300. Residential Sales Volume: Sales volume decreased 25%, from $2,674,900 in 2012 to $2,009,700 in 2013.

Clinton, Camanche & Fulton

Des Moines & Surrounding Area

Listing Inventory: There are 3,243 properties for sale in Des Moines, IA and the surrounding area; a 29% decrease from the same time last year when there was 4,548 properties for sale. Properties Sold: There was a 1% decrease in the number of residential properties sold, comparing 1,665 sales in 2012 to 1,651 sales in 2013. Average Sales Price: The average sales price was $170,900 in the first quarter of 2013, a 12% increase from the 2012 average sales price of $152,000. Residential Sales Volume: Sales 2 • RuhlHomes.com

DeWitt

Dubuque Area

2013 Sales Volume

Listing Inventory: There are 507 residential properties listed for sale in the Dubuque region. This is a 17% decrease from the same time last year when there were 612 properties for sale. Properties Sold: 2% fewer properties sold and closed in the first quarter of 2013, a decrease from 143 closings through March 2012 to 140 closings through March 2013. Average Sales Price: The average sales price of homes sold through March 2013 was $143,700, a 3% decrease from the average sales price of $148,900 through March 2012. Residential Sales Volume: Sales volume for the first quarter of 2013 was

% Change in Sales Volume from 2012

+21% +21% -39% +11% -25% -6% +47% +9% +14% +2% +40% +29% +21% -37%

Active Listing Count 2013

233 1,788 298 3,243 39 507 362 792 663 1,443 77 228 364 109

% Change in Active Listings from 2012

-11% -16% +3% -29% -25% -17% +1% -6% -19% -12% -43% -12% -16% N/A

$20,118,000, down 6% from 2012’s first quarter sales volume of $21,298,000.

Galena & Surrounding Area

Listing Inventory: There are 362 properties for sale in Galena, Illinois and the surrounding area; a 1% increase in the number of properties for sale at the same time last year when there were 359 listings. Properties Sold: There was a 27% increase in the number of residential properties sold in the first quarter of 2013, comparing 15 sales in 2012 to 19 sales in 2013. Average Sales Price: The average sales price was $183,200 through March 2013, 16% higher than the $157,900 average sales price through March 2012. Residential Sales Volume: Sales volume was up 47% for the first quarter of 2013, an increase from $2,369,200 through March 2012 to $3,480,300 through March 2013.

Illinois Quad Cities

Listing Inventory: The number of properties for sale is down 6% from the same time last year; a decrease from 846 listings to 792 listings currently. Properties Sold: In the first quarter of 2013, 8% more properties sold, comparing 354 sales through March 2012 to 382 sales through March this year. Average Sales Price: The average sales price increased 1%, from $99,200 through March 2012 to $100,100 through March 2013. Summary continued on page 3

NEW RuhlHomes.com: Sold Information & Neighborhood Reports Have you ever wanted to know how much your neighbor’s home sold for – find out now! In May, Ruhl&Ruhl REALTORS is launching an improved, even easier to use website, with a new look and more data to help consumers stay informed. RuhlHomes.com continues to have easy access to ALL properties for sale by all companies, and now allows consumers to search properties that have recently sold and receive reports about their market and neighborhood.

SEARCH ALL PROPERTIES

With 1.2 million visitors in 2012, RuhlHomes.com has more listings and more visitors, giving buyers more properties to choose from and providing sellers the opportunity to reach a larger market. Visitors can search a streamlined website to make it easier and faster to find ALL properties for sale across eastern Iowa, western Illinois and southwest Wisconsin. This includes residential, commercial and multi-family properties, as well as lots, land and farms, for sale in 13 Multiple Listing Services (MLSs) across 29 counties.

SOLD DATA

RuhlHomes.com is the only regional website to provide information on properties that have recently sold – including days on market and property details – helping our clients make more informed decisions when buying or selling real estate. Now you can find out how much your neighbor’s Summary continued from page 2

Residential Sales Volume: Sales volume grew 9% in the first quarter of 2013, from $35,115,900 to $38,242,800.

Iowa Quad Cities

Listing Inventory: There are 663 homes and condominiums listed for sale in the Iowa Quad Cities, a 19% decrease from the same time last year when there were 820 properties for sale. Properties Sold: 18% more properties sold and closed in the first quarter of 2013, an increase from 385 sales to 454 sales. Average Sales Price: The average sales price decreased by 4%; from $170,900 through March 2012 to $164,800 through March 2013. Residential Sales Volume: Sales volume went up 14%, from $65,787,900

Ruhl Premier Access is a suite of new tools for all your real estate needs. Now search properties that have recently sold, receive market reports about real

estate activity in any neighborhood, and use Personal Shopper to be the first to know about new listings! Market and neighborhood reports share real estate trends by zip code to what’s happening on your block! These reports give you solds, new listings, price changes, statistics and trends, graphs, and so much more. Sign up for your free account today by visiting RuhlHomes.com. In addition, RuhlHomes.com remains the source for up to date real estate information, continuing to offer a wealth of information on mortgages, real estate trends by market, the home buying and selling process, relocation, new construction, investing in real estate and so much more! Visit RuhlHomes.com to experience our new website to stay informed!

in the first quarter of 2012 to $74,820,700 in the first quarter of 2013.

Maquoketa, Preston & Bellevue

property sold for as well as other comparable properties in your area. Or if you are interested in moving to a new neighborhood, you could see what homes in that area are selling for. “Today’s buyers and sellers want to be in control of their home buying and home selling experiences,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “They want to have all the information, trends and statistics at their fingertips. The tools on RuhlHomes.com help give them accurate information on which to base their buying and selling decisions. And they can also get in touch with a Realtor to help interpret that data.”

RUHL PREMIER ACCESS

Iowa City Area

Listing Inventory: There is a 12% decrease in properties for sale in Iowa City, from 1,631 in 2012 to 1,443 homes and condominiums on the market currently. Properties Sold: Sales have increased 1% from 340 properties sold through the first quarter of 2012 to 345 sales closed through March 2013. Average Sales Price: There was no statistical change in the average sales price of homes sold in the first quarter of 2013, comparing $180,700 to $180,300 in 2012. Residential Sales Volume: Sales volume increased 2%, from $61,309,500 through March 2012 to $62,349,400 through March 2013.

Listing Inventory: There are 77 properties for sale in the Maquoketa, Preston, and Bellevue area, 43% fewer than the 134 properties listed for sale at the same time in 2012. Properties Sold: 8% more properties sold during the first quarter of 2013, an increase from 26 sales in 2012 to 28 sales in 2013. Average Sales Price: The average sales price of homes sold through March 2013 was $114,100, 30% more than the average sales price of $87,800 through March 2012. Residential Sales Volume: Sales volume grew 40%, from $2,282,900 in the first quarter of 2012 to $3,193,500 in the first quarter of 2013.

Summary continued on page 4 RuhlHomes.com • 3

Home Prices Appreciating in our Markets Home prices are going up! This is being caused primarily by pent up buyer demand and rapid absorption of our listing inventory. According to the Federal Housing Finance Agency, of the 302 MSAs (Metropolitan Statistical Areas) ranked by home price appreciation in 2012, all of our markets in eastern Iowa ranked in the top 39% in the nation – the Quad Cities at 77th; Dubuque at 93rd, Iowa City at 97th; and Cedar Rapids at 117th. All of our markets’ home prices are Metropolitan Statistical Areas (MSA’s)

up, as shown in the chart below. Over the past 5 years prices increased: 7.10% in Dubuque; 2.09% in the Quad Cities; 1.73% in Iowa City; and 0.82% in Cedar Rapids. This compares to other cities: Des Moines, IA down 4.82%; Chicago, IL down 25.54%; and nationally prices fell 12.87%. Because home prices in our markets didn’t fall as drastically as other areas of the country, the increase in home price appreciation has continued to be a modest, but steady gain locally.

2012 Appreciation Ranking of 302 MSA’s*

Comparison to All 302 MSA’s

117

Top 39%

+0.85%

+0.82%

Top 25%

+1.58%

+2.09%

172

Top 57%

-0.13%

-4.82%

93 97

Top 31% Top 32%

+1.32% +1.27% +5.45%

+7.10% +1.73% -12.87%

Cedar Rapids, IA Davenport-MolineRock Island , IA-IL Des MoinesWest Des Moines, IA Dubuque, IA Iowa City, IA USA

Percent Change in House Prices 1 Year 5 Year

Regio Through March Burlington Area (Burlington Board of Realtors)

Cedar Rapids Area (Cedar Rapids Area Assoc. of R Southeast Cedar Rapids Northeast Cedar Rapids Southwest Cedar Rapids Northwest Cedar Rapids Hiawatha & Robins Marion

East of I-380: Mechanicsville, Anamosa, Mt. Vernon, Li West of I-380: Walford, Fairfax, Atkins, etc. Corridor Area: Solon, Ely, Swisher Condominiums

Clinton, Camanche & Fulton (Clinton Board of Real DeWitt (Quad City Area Realtor Assoc.) Dubuque Area (Dubuque Board of Realtors) Dubuque North, South and West Dubuque Illinois Wisconsin

Galena & Surrounding Area (Realtor Assoc. of Nort

Illinois Quad Cities (Quad City Area Realtor Assoc. Rock Island Milan & Rural Rock Island County Moline

*Information courtesy of Federal Housing Finance Agency (FHFA) for fourth quarter 2012. FHFA stats always run one quarter behind. Their full report is accessible at www.fhfa.gov. Rankings based on annual percentage change in house prices.

Coal Valley, Rural Moline, Miscellaneous

Summary continued from page 3

Mercer County

Muscatine & Wilton Area

Listing Inventory: There are 228 homes and condominiums listed for sale currently in the Muscatine and Wilton area, 12% fewer than the same time in 2012 when there were 260 properties for sale. Properties Sold: There were 20% more residential properties sold in the first quarter of 2013, comparing 94 sales last year to 113 sales in the first quarter of 2013. Average Sales Price: The average sales price was $124,300 through March 2013, a 16% increase from the $107,300 average sales price in the first quarter of 2012. Residential Sales Volume: Sales volume was up 29%, an increase from $10,922,900 through March 2012 to $14,049,200 through March 2013.

Southwest Wisconsin

Listing Inventory: There are 354 properties for sale in the southwest Wisconsin region, 16% fewer than the 431 properties listed for sale at the same time in 2012. Properties Sold: 36% more properties 4 • RuhlHomes.com

sold during the first quarter of 2013, an increase from 67 sales in 2012 to 91 sales in 2013. Average Sales Price: The average sales price of homes sold through March 2013 was $102,800, 11% fewer than the average sales price of $115,200 through March 2012. Residential Sales Volume: Sales volume grew by 21%, from $7,717,200 in the first quarter of 2012 to $9,356,700 in the first quarter of 2013.

Washington Area

Listing Inventory: There are 109 properties for sale in Washington, Iowa and the surrounding area. This is the first year we have tracked this data. Properties Sold: Sales have decreased 14% from 28 properties sold through the first quarter of 2012 to 24 sales closed through March 2013. Average Sales Price: The average sales price was $77,200 through March 2013, a 26% decrease from the average sales price of $104,800 through March 2012. Residential Sales Volume: Sales volume shrank 37%, from $2,934,700 through March 2012 to $1,851,600 through March 2013.

East Moline & Silvis Port Byron, Upper Rock Island County Henry County Condominiums Iowa Quad Cities (Quad City Area Realtor Assoc.) Davenport Bettendorf & Riverdale Blue Grass, Buffalo, Durant & Walcott LeClaire, Pleasant Valley & Princeton North Scott County Miscellaneous Condominiums Iowa City Area (Iowa City Area Assoc. of Realtors) Iowa City Coralville Northwest Iowa City Northeast Iowa City Southeast Iowa City Southwest Iowa City Corridor Area Miscellaneous

Condominiums Maquoketa, Preston & Bellevue (Jackson County M

Muscatine & Wilton Area (Muscatine Board of Realt Muscatine Wilton Muscatine Outlying Condominiums Washington Area* (English River MLS)

Wisconsin - Grant & Lafayette Co. (S. Central Wisc

(This representation is based in part on data supplied by the REALT MLS) responsible for its accuracy. Data maintained by the Boards or their

onal Residential Real Estate Activity Chart Current MLS Listings

Realtors)

isbon, etc.

ltors)

% of Active Listings

2013 Avg. Sales Price

2013 Sales Volume

2013 # Sold

% of Unit Sales

Sales/ List

2012 # Sold

2012 Avg. Sales Price

2012 Sales Volume

233

$100,200

$10,523,400

105

94%

$92,200

$8,670,700

1,788

$161,300

$115,030,100

713

97%

637

$148,900

$94,848,800

158

159,300

8,762,000

96%

126,000

6,679,400

208

11%

182,600

18,629,200

102

14%

96%

149,100

14,607,100

161

134,700

10,103,300

10%

98%

117,700

8,590,800

125

123,100

6,647,200

97%

126,300

5,808,200

224,100

4,258,300

98%

236,300

3,781,100

200

11%

183,500

17,795,000

13%

98%

181,900

14,004,700

232

12%

147,800

9,753,700

95%

162,100

14,590,600

151

136,800

9,851,000

10%

96%

124,400

6,593,100

134

249,100

8,718,000

97%

226,200

5,880,300

380

26%

148,600

20,512,400

138

21%

99%

105

136,300

14,313,500

298

$83,900

$5,623,200

92%

100

$92,900

$9,287,800

$143,500

$2,009,700

91%

$116,300

$2,674,900

507

$143,700

$20,118,000

140

92%

143

$148,900

$21,298,000

351

69%

151,700

15,166,000

100

71%

95%

111

142,100

15,778,400

107

21%

128,300

3,976,400

23%

93%

198,600

4,568,000

89,000

267,000

92%

94,000

564,000

118,100

708,500

89%

129,200

387,500

$183,200

$3,480,300

84%

$157,900

$2,369,200

thwest IL)

362

792

$100,100

$38,242,800

382

95%

354

$99,200

$35,115,900

120

15%

82,900

5,637,900

18%

95%

75,400

5,275,500

108,400

3,034,700

96%

121,200

2,907,700

162

21%

101,200

9,920,600

26%

95%

99,100

7,931,500

109,900

1,759,000

96%

143,300

2,006,200

10%

96,100

3,845,900

10%

94%

99,300

5,662,700

149,700

2,244,900

97%

164,500

2,302,900

97,600

1,951,900

91%

90,600

1,269,100

160

20%

89,500

6,803,700

20%

92%

99,500

5,970,900

145,000

3,044,200

95%

85,200

1,789,400

$164,800

$74,820,700

454

97%

385

$170,900

$65,787,900

663 313

47%

125,200

30,426,700

243

54%

96%

205

126,700

25,972,100

107

16%

300,000

22,798,500

17%

98%

285,200

23,388,000

153,600

3,686,000

97%

178,500

2,142,400

253,300

4,306,800

96%

208,200

2,497,800

211,300

6,128,500

97%

201,700

4,437,400

83,100

1,578,900

90%

117,500

1,057,400

121

19%

128,200

5,895,300

10%

96%

146,300

6,292,800

$180,700

$62,349,400

345

96%

340

$180,300

$61,309,500

1,443 309

21%

249,500

18,460,500

21%

96%

217,000

16,060,600

113

201,700

4,033,900

96%

228,600

4,572,700

142

10%

243,500

7,549,600

99%

235,800

9,431,100

136,300

1,226,500

96%

115,200

921,500

74,500

372,400

86%

122,400

734,500

130,900

3,533,700

94%

158,300

2,850,000

295,700

4,435,700

95%

216,200

2,811,200

194

13%

131,400

8,012,800

18%

95%

130,300

8,077,300

461 77

33%

143,000 $114,100

14,724,300 $3,193,500

103 28

30%

MLS)

98% 93%

99 26

160,100 $87,800

15,850,600 $2,282,900

tors)

228

consin)

$124,300

$14,049,200

113

94%

$107,300

$10,922,900

132

58%

125,700

9,675,200

68%

95%

107,800

7,009,800

115,700

1,388,300

11%

93%

93,000

1,115,500

31%

106,400

1,701,600

14%

94%

178,000

1,958,200

160,500

1,284,100

96%

139,900

839,400

109

$77,200

$1,851,600

95%

$104,800

$2,934,700

364

$102,800

$9,356,700

85%

$115,200

$7,717,200

TOR Associations or their Multiple ListÂing Services. Neither the Boards nor their MLS guarantee or is in any way MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.

RuhlHomes.com â&#x20AC;˘ 5

Regional New Construction Home Sales Active Inventory 3/31/11

Through March

261 129 132 62 45 17 22 10 12 116 71 45 325 139 186 786

Cedar Rapids Area Houses Condos/Villas Dubuque Area Houses Condos/Villas Illinois Quad Cities (Rock Island County) Houses Condos/Villas Iowa Quad Cities (Scott County) Houses Condos/Villas Iowa City Area Houses Condos/Villas Total Regional Combined

Active Inventory 3/31/12

212 127 85 76 52 24 23 7 16 104 57 47 198 95 103 613

Active Inventory 3/31/13

161 102 59 42 34 8 20 4 16 91 50 41 274 151 123 588

% Change in Inventory from 2012

Sales 2011

-24% -20% -31% -45% -35% -67% -13% -43% 0% -13% -12% -13% +38% +59% +19% -4%

74 58 16 5 5 0 9 8 1 34 20 14 56 32 24 178

Sales 2012

65 42 23 11 10 1 7 6 1 46 35 11 53 23 30 182

Sales 2013

71 46 25 14 14 0 1 1 0 39 34 5 38 17 21 163

% Change in Sales from 2012

+9% +10% +9% +27% +40% -100% -86% -83% -100% -15% -3% -55% -28% -26% -30% -10%

Ruhl&Ruhl REALTORS Ranked Iowa’s Largest Privately Owned Real Estate Company Ruhl&Ruhl REALTORS was once again ranked the largest privately-owned real estate company in Iowa, according to RISMedia’s 2013 Power Broker Report. The report ranks the top 500 real estate companies in the country according to the number of transactions and sales volume. Ruhl&Ruhl ranked 82nd in the country for the number of home sale transactions closed, which was 5,049 in 2012. Ruhl&Ruhl’s all-inclusive sales Company Name

Ruhl&Ruhl REALTORS Skogman Realty, Cedar Rapids Mel Foster Co., Quad Cities Coldwell Banker Mid-America Group, Des Moines

volume was $807,533,527*. Including non-residential transactions, Ruhl&Ruhl REALTORS closed 5,168 deals or 18.1 transactions per agent which places Ruhl&Ruhl agents among the most productive in the country. The National Association of Realtors reports an average of 7 sales per agent nationally. “2012 was a wonderful year for Ruhl&Ruhl REALTORS - our sales volume grew by 36.2% and we had 24.5% more transactions than the prior

year,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “And it looks like 2013 will be even better!” “We are excited and proud to earn this ranking,” Ruhl said. “I have been blessed to be surrounded by the best people in our business. At the end of the day, it always comes down to having the right people.” To view the 2013 Power Broker Report, visit this link, http://remag.rismedia.com/i/118999.

Transactions Rank

Transactions

Sales Volume*

Total Offices

Total Agents

Transactions Per Agents

5,049

$749,811,624

286

17.7

128

3,780

$626,111,380

219

17.3

152

3,225

$472,597,438

224

14.4

183

2,900

$482,936,760

192

15.1

*The RIS ranking and report is based on residential sales only. It excludes farms, land, commercial and other non-residential properties.

Combined Iowa & Illinois Quad Cities MLS Statistics Through March

Current MLS Listings Average Sales Price Total Sales Volume Total # of Sales YTD 6 • RuhlHomes.com

2009

2010

2011

2012

2013

1,887 $130,300 $82,355,400 632

1,804 $129,000 $87,047,000 675

1,869 $120,400 $75,259,800 625

1,666 $136,500 $100,903,800 739

1,456 $135,200 $113,063,400 836

% Change 2012 vs. 2013 -13% -1% +12% +13%

New Housing Starts Through March

2010 2008

2011

2012

2013

Burlington Area* Burlington West Burlington Cedar Rapids Area Cedar Rapids Marion Rural Linn County Hiawatha & Mechanicsville Areas Dubuque Area Dubuque East Dubuque Galena Jo Daviess County Peosta Surrounding Dubuque Area Illinois Quad Cities Moline & Coal Valley Rock Island East Moline & Hampton Colona Port Byron Geneseo Rural Rock Island County & Milan Silvis Whiteside County Iowa Quad Cities Davenport Bettendorf Rural Scott County Eldridge & Long Grove LeClaire & Princeton Blue Grass - city of Iowa City Area Iowa City Coralville North Liberty Rural Johnson County West Branch Williamsburg, Wellman & Kalona West Liberty Muscatine Area Muscatine Muscatine County Wilton Other Areas Clinton DeWitt Maquoketa, Preston & Bellevue Washington Area* Total Regional Starts

N/A N/A N/A 122 40 53 26 3 71 22 0 0 2 0 47 24 4 0 2 1 1 0 11 1 4 81 19 31 15 5 9 2 71 30 10 25 3 3 0 0 8 6 2 0 8 6 2 0 N/A 385

N/A N/A N/A 109 69 23 13 4 57 13 0 0 2 2 40 27 5 0 0 1 1 3 6 10 1 72 18 37 5 9 1 2 61 22 5 29 3 0 0 2 1 1 0 0 7 4 1 2 N/A 334

2 2 0 79 44 26 7 2 55 15 0 0 4 0 36 28 5 10 1 0 0 1 5 1 5 74 20 27 12 6 9 0 95 35 10 39 6 2 3 0 3 2 0 1 4 1 1 2 N/A 340

3 3 0 69 33 22 11 3 60 16 0 0 4 3 37 16 0 3 3 5 1 1 1 0 2 78 12 28 15 7 15 1 73 25 2 33 10 1 2 0 7 1 6 0 4** 2 2 0 0 310**

Des Moines Area***

N/A

299

350

% Change 2012 vs. 2013 +50% +50% 0% -13% -25% -15% +57% +50% +9% +7% 0% 0% 0% +300% +3% -43% -100% -70% +200% +500% +100% 0% -80% -100% -60% +5% -40% +4% +25% +17% +67% +100% -23% -29% -80% -15% +67% -50% -33% 0% +133% -50% +600% -100% 0%** +100% +100% -100% N/A -9%** +17%

Source: Municipal offices. There may be additional new homes built which are not included with this data. *Burlington Area, Des Moines Area and Washington Area were recently added and little or no past data is available. **2013 totals include Washington Area information while 2012 totals do not. ***Des Moines Area is comprised of Adel, Altoona, Ankeny, Clive, Des Moines, Indianola, Johnston, Pleasant Hill, Polk City, Urbandale, Waukee, & West Des Moines.

Declining New Construction Inventory Slowing Sales

While last year’s mild winter helped new home sales get off to a hot start, this year’s extended period of cold and snow has held back sales. Overall regional new home sales in the first quarter were 10% below 2012 totals, while new home starts for the period also fell by about 10%, as detailed in charts on pages 6 and 7. Not only the weather, but declining inventory, explain new house sales accounting for only about one of every 13 house sales across the region. New condos were about one in every five condo sales recorded during the quarter. Prices of new homes began their predicted rise earlier than expected, but sales per price range were pretty consistent with 2012 year-end figures: Below $300K = 60% of house sales $300-400K = 25% of house sales Above $400K = 15% of house sales Regionally, ranch style homes were still a strong preference with a 72% market share, but this is down from 85% for all of 2012. Dubuque is most adamant about ranches, as 100% of new house sales were ranches. The Quad Cities sold only 40% ranches, while 43% were two stories. DUBUQUE: The Dubuque area built on a 69% increase in new house sales in 2012 by showing a 40% increase in house sales the first quarter, with all sales being ranches under $400K. Despite a 9% increase in housing starts, current inventory is 45% lower than last year. New condo sales remained very weak in Dubuque, with none reported this quarter. CEDAR RAPIDS: Overall sales were up 9%, from 65 units to 71. 72% of all houses were sold below $300K, while two story houses started to show strength in the market at 22% of sales, up 10% from a year ago. New condo sales were up 9%, as opposed to the regional drop of 23% in condo sales. The overall sales increase, coupled with 13% fewer new starts, combined to account for a 24% decrease in available new home inventory in this market area. IOWA CITY: New home unit sales for the first quarter were down from 53 last year to 38 in 2013, a drop of 28%. This is the largest drop seen across the region. Both house and condo sales suffered. With sales down, inventories did rise 38% despite new starts being down by 23%. New house inventory is 59% higher than

New Construction continued on page 8 RuhlHomes.com • 7

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