Mindy Dodd Facts and Trends Summer 2017

Ruhl&Ruhl Realtors

Summer 2017

Record Breaking Sales and Home Prices Appreciating

Mindy Dodd Realtor Bettendorf Office 1228 Middle Road Bettendorf, IA 52722-3604 (563) 249-6306 MindyDodd@ruhlhomes.com MindyDodd.RuhlHomes.com

IN THIS ISSUE: page 3

Ruhl&Ruhl Realtors Opens 2ႈFH LQ *DOHQD ,/

page 4 +RPH 3ULFHV RQ 7KHLU :D\ Up in Our Region

page 6 Iowa First-Time Homebuyers 6DYLQJV 3URJUDP

page 7 &RQGR 6DOHV 6HW WKH 3DFH in the New Construction 0DUNHW

7KH ¿UVW KDOI RI VDZ D UHFRUG number of homes sold and closed in our UHJLRQ ,Q WKH 4XDG &LWLHV IRU H[DPSOH the Multiple Listing Service (MLS) had the most sales closed from January through June that we have had since 2000 â&#x20AC;&#x201C; a \HDU KLJK 6HH 0LG <HDU &RPSDULVRQ &KDUW RQ SDJH

Our Regional Activity Chart on page 2 shows the sales increases in all of our PDUNHWV 2YHUDOO VDOHV YROXPH LQ WKH UHJLRQ FRPSDUHG WR ODVW \HDU LV XS ZLWK VRPH top performers being the Dubuque Area â&#x20AC;&#x201C; XS DQG WKH ,RZD &LW\ DQG 0XVFDWLQH :LOWRQ $UHDV ERWK XS % Change in Sales Volume

+20%

+15%

Dubuque Area

Iowa City Area

+15% Muscatine & Wilton Area

ORFDWLRQ RI SURSHUWLHV ZLWK PRUH Dá&#x201A;&#x2021;RUGDEOH properties appreciating more due to higher demand and lower inventory.

Home Price Appreciation

+3.62% Quad Cities

+2.35% Cedar Rapids

Low Interest Rates Fueling Sales /RZ LQWHUHVW UDWHV DOVR KHOS Dá&#x201A;&#x2021;RUGDELOLW\ 2Q -XO\ UDWHV ZLWK QR SRLQWV ZHUH \HDU &RQYHQWLRQDO )L[HG \HDU &RQYHQWLRQDO )L[HG )+$ 9$ \HDU )L[HG $50 (Adjustable Rate Mortgage) Buyers can buy more house for the same monthly payment now, than they ZLOO EH DEOH WR EX\ LQ ZKHQ LQWHUHVW rates will be higher.

Inventory Still Falling

The number of homes for sale is Home Prices Appreciating More alarmingly low â&#x20AC;&#x201C; down another 8% in the All of our regional Metropolitan region compared to last summer. In the 6WDWLVWLFDO $UHDV 06$V H[SHULHQFHG D 4XDG &LWLHV OLVWLQJV DUH DW WKHLU ORZHVW positive gain as price appreciation in our region over the past 5 years was between OHYHOV LQ \HDUV This makes now the DQG 6SHFL¿F DSSUHFLDWLRQ best time ever for sellers to sell at top dollar. It is a real challenge for buyers of UDWHV E\ 06$ DUH VKRZQ RQ SDJH ,Q Dá&#x201A;&#x2021;RUGDEOH KRPHV WR ¿QG DQG QHJRWLDWH the past year, according to the Federal DQ DFFHSWDEOH Rá&#x201A;&#x2021;HU RQ D SURSHUW\ +RPHV Housing Finance Agency (FHFA), prices are selling fast and some receive multiple DUH XS LQ 'XEXTXH LQ Rá&#x201A;&#x2021;HUV DQG RU VHOO RYHU OLVW SULFH ,W LV ,RZD &LW\ LQ WKH 4XDG &LWLHV DQG SRVVLEOH WKDW WKLV VKRUWDJH RI Dá&#x201A;&#x2021;RUGDEOH LQ &HGDU 5DSLGV 7KLV FRPSDUHV inventory may lead to a slowdown in to a 6% increase nationally. The National housing sales. Investors have been a Association of Realtors (NAR) warns of PL[HG EOHVVLQJ WR 5HDOWRUV :H ORYH WR VHOO DQ Dá&#x201A;&#x2021;RUGDELOLW\ FULVLV LQ PDQ\ PDUNHWV them income properties and help them due to the rapid appreciation in home SULFHV /XFNLO\ RXU UHJLRQ FRQWLQXHV WR EH create wealth. However, a new study by RQH RI WKH PRVW Dá&#x201A;&#x2021;RUGDEOH LQ WKH FRXQWU\ $QGUHZ :DLWH UHSRUWV WKDW LQYHVWRUV QRZ own over 20% of all one to four family There is considerable variation in price homes in the US. So that inventory is no appreciation based on price range and longer available to homebuyers.

2017 Regional Real Estate Activity Through June

Average 2017 Sales Price

% Change in Average Sales Price from 2016

2017 Number Sold

% Change in Number Sold from 2016

$176,600

+6% +5%

+8% +6%

+6%

8,741

+5%

+8%

+8%

+6%

Burlington Area Cedar Rapids Area Clinton/Camanche/Fulton DeWitt Dubuque Area Galena & Galena Territory Galesburg Area Illinois Quad Cities Iowa Quad Cities Iowa City Area Muscatine/Wilton Area Southwest Wisconsin Area 2017 Regional Total

2017 Sales Volume

% Change in Sales Volume from 2016

Active Listing Count 2017

$60,528,800

$8,865,800

$1,544,022,000

+20%

+5%

+12%

28

550

6,009

% Change in Active Listings from 2016

NA

-22% -8%*

Months of Inventory

2.8

*The counties we track for the Galesburg Area have changed. Regional total % change in active listings is based on 2017 totals without Galesburg Area (5,750) compared to 2016 totals without Galesburg Area (6,220).

Summary of Regional Real Estate Activity Burlington Area

Listing Inventory: 7KHUH DUH homes and condominiums listed for sale in Burlington, Iowa and the VXUURXQGLQJ DUHD D LQFUHDVH IURP the same time last year when there ZHUH SURSHUWLHV IRU VDOH Properties Sold: PRUH UHVLGHQWLDO SURSHUWLHV VROG WKURXJK -XQH WKDQ WKURXJK -XQH FRPSDULQJ VDOHV ODVW \HDU WR VDOHV WKLV year.

Average Sales Price: The average VDOHV SULFH ZDV D increase from the average sales price WKURXJK -XQH RI Residential Sales Volume: Sales YROXPH ZDV XS DQ LQFUHDVH IURP WKURXJK -XQH WR WKURXJK -XQH

Cedar Rapids Area

Listing Inventory: 7KHUH DUH residential properties listed for sale LQ WKH &HGDU 5DSLGV $UHD IHZHU than the same time last year when WKHUH ZHUH SURSHUWLHV OLVWHG Properties Sold: Through June this \HDU SURSHUWLHV VROG PRUH WKDQ WKH WKDW VROG WKURXJK -XQH

Average Sales Price: The average VDOHV SULFH ZDV WKURXJK -XQH PRUH WKDQ WKH DYHUDJH VDOHV SULFH RI WKURXJK -XQH Residential Sales Volume: Sales YROXPH LQFUHDVHG IURP 2 â&#x20AC;¢ RuhlHomes.com

WKURXJK -XQH WR WKURXJK -XQH

Clinton, Camanche & Fulton

Listing Inventory: 7KHUH DUH PRUH properties listed for sale in Clinton, &DPDQFKH DQG )XOWRQ FRPSDULQJ FXUUHQW OLVWLQJV WR SURSHUWLHV IRU sale last year.

Properties Sold: PRUH SURSHUWLHV VROG WKURXJK -XQH DQ LQFUHDVH IURP VDOHV LQ WR VDOHV WKURXJK -XQH Average Sales Price: The average VDOHV SULFH WKURXJK -XQH ZDV D LQFUHDVH IURP WKH DYHUDJH VDOHV SULFH RI WKURXJK -XQH Residential Sales Volume: Sales YROXPH ZDV XS WKURXJK -XQH IURP LQ WR WKURXJK -XQH

DeWitt

Listing Inventory: 'H:LWW¶V OLVWLQJ LQYHQWRU\ LV GRZQ IURP properties listed for sale last year to 28 SURSHUWLHV FXUUHQWO\ RQ WKH PDUNHW Properties Sold: SURSHUWLHV VROG DQG FORVHG WKURXJK -XQH D LQFUHDVH FRPSDUHG WR VDOHV WKURXJK -XQH Average Sales Price: The average sales price of homes sold through -XQH ZDV OHVV WKDQ WKURXJK -XQH ZKHQ WKH DYHUDJH VDOHV SULFH ZDV Residential Sales Volume: Sales

YROXPH LQFUHDVHG WKURXJK -XQH IURP LQ WR LQ

Dubuque Area

Listing Inventory: 7KHUH DUH residential properties listed for sale LQ WKH 'XEXTXH $UHD D GHFUHDVH from the same time last year when WKHUH ZHUH SURSHUWLHV IRU VDOH Properties Sold: PRUH SURSHUWLHV VROG WKURXJK -XQH DQ LQFUHDVH IURP FORVLQJV WKURXJK -XQH WR FORVLQJV WKURXJK -XQH Average Sales Price: The average sales price of homes sold through -XQH ZDV D increase over the average sales price RI WKURXJK -XQH Residential Sales Volume: Sales YROXPH WKURXJK -XQH RI ZDV XS IURP WKH VDPH WLPH SHULRG LQ ZKHQ VDOHV YROXPH ZDV

Galena & Galena Territory

Listing Inventory: 7KHUH DUH SURSHUWLHV IRU VDOH LQ *DOHQD DQG WKH *DOHQD 7HUULWRU\ IHZHU WKDQ WKH same time last year when there were OLVWLQJV Properties Sold: There was an 8% increase in the number of residential SURSHUWLHV VROG WKURXJK -XQH FRPSDULQJ VDOHV LQ WR VDOHV LQ Average Sales Price: The average Summary continued on page 3

Summary continued from page 2

VDOHV SULFH ZDV WKURXJK -XQH OHVV WKDQ ODVW \HDU ZKHQ WKH DYHUDJH VDOHV SULFH ZDV Residential Sales Volume: Sales YROXPH ZDV XS WKURXJK -XQH DQ LQFUHDVH IURP WKURXJK -XQH WR WKURXJK -XQH

WKURXJK -XQH Residential Sales Volume: Sales YROXPH LQFUHDVHG WKURXJK -XQH IURP LQ WR

WKURXJK -XQH

Muscatine & Wilton Area

Listing Inventory: 7KHUH DUH homes and condominiums listed for VDOH LQ WKH 0XVFDWLQH DQG :LOWRQ $UHD Iowa Quad Cities PRUH WKDQ WKH VDPH WLPH ODVW \HDU Listing Inventory: There are 550 ZKHQ WKHUH ZHUH SURSHUWLHV IRU homes and condominiums listed for sale.

VDOH LQ WKH ,RZD 4XDG &LWLHV IHZHU Properties Sold: PRUH UHVLGHQWLDO Galesburg Area than the same time last year when SURSHUWLHV VROG WKURXJK -XQH Listing Inventory: 7KHUH DUH there were 602 properties for sale.

FRPSDULQJ VDOHV ODVW \HDU WR residential properties currently listed Properties Sold: IHZHU SURSHUWLHV sales through June of this year.

IRU VDOH LQ WKH *DOHVEXUJ $UHD 7KLV LV VROG WKURXJK -XQH D GHFUHDVH Average Sales Price: The average WKH ¿UVW \HDU ZH DUH WUDFNLQJ WKH WZR IURP VDOHV WKURXJK -XQH WR VDOHV SULFH ZDV D county area. increase from the average sales price VDOHV WKURXJK -XQH Properties Sold: Sales have Average Sales Price: The average WKURXJK -XQH RI GHFUHDVHG IURP SURSHUWLHV Residential Sales Volume: Sales sales price increased 8%; from VROG WKURXJK -XQH WR WKURXJK WKURXJK -XQH WR YROXPH ZDV XS IURP -XQH WKURXJK -XQH WR WKURXJK -XQH Average Sales Price: The average Residential Sales Volume: Sales WKURXJK -XQH VDOHV SULFH ZDV WKURXJK -XQH YROXPH ZHQW XS IURP Southwest Wisconsin Area PRUH WKDQ WKH DYHUDJH VDOHV WKURXJK -XQH WR Listing Inventory: 7KHUH DUH SULFH RI WKURXJK -XQH WKURXJK -XQH properties for sale in the southwest Residential Sales Volume: Sales Iowa City Area :LVFRQVLQ $UHD D GHFUHDVH volume increased 5% through Listing Inventory: The number of compared to the same time last year -XQH IURP WR properties for sale in the Iowa City ZKHQ WKHUH ZHUH OLVWLQJV

Properties Sold: 7KHUH ZDV D $UHD LV GRZQ D GHFUHDVH IURP Illinois Quad Cities increase in the number of residential LQ WR SURSHUWLHV Listing Inventory: The number of SURSHUWLHV VROG WKURXJK -XQH FXUUHQWO\ RQ WKH PDUNHW SURSHUWLHV IRU VDOH LQ WKH ,OOLQRLV 4XDG Properties Sold: 8% more properties FRPSDULQJ SURSHUWLHV VROG LQ &LWLHV LV GRZQ IURP OLVWLQJV VROG WKURXJK -XQH DQ LQFUHDVH WR SURSHUWLHV VROG WKLV \HDU ODVW \HDU WR OLVWLQJV FXUUHQWO\ RQ WKH IURP VDOHV LQ WR Average Sales Price: The average PDUNHW VDOHV SULFH ZDV WKURXJK -XQH VDOHV LQ Properties Sold: 7KURXJK -XQH Average Sales Price: The average KLJKHU WKDQ WKURXJK -XQH PRUH SURSHUWLHV VROG FRPSDULQJ VDOHV SULFH ZDV WKURXJK -XQH ZKHQ WKH DYHUDJH VDOHV SULFH VDOHV WKURXJK -XQH WR D LQFUHDVH FRPSDUHG WR ZKHQ ZDV VDOHV WKURXJK -XQH Residential Sales Volume: Sales WKH DYHUDJH VDOHV SULFH ZDV Average Sales Price: The average Residential Sales Volume: Sales YROXPH ZDV XS DQ LQFUHDVH IURP VDOHV SULFH ZDV XS IURP YROXPH LQFUHDVHG IURP WKURXJK -XQH WR WKURXJK -XQH WR WKURXJK -XQH WR WKURXJK -XQH

Ruhl&Ruhl Realtors Opens Office in Galena, IL Ruhl&Ruhl Realtors is pleased to announce that they have joined forces with McCoy Real Estate Inc. Ruhl&Ruhl 5HDOWRUV KDV RSHQHG D QHZ Rá&#x201A;&#x2C6;FH LQ *DOHQD ORFDWHG DW 6 0DLQ 6WUHHW IRUPHUO\ WKH Rá&#x201A;&#x2C6;FH RI 0F&R\ 5HDO (VWDWH 0LNH DQG 6KHOO\ 0F&R\ DUH QRZ EURNHUV ZLWK 5XKO 5XKO 5HDOWRUV DV DUH -RDQ 0XUUD\ .HYLQ .QDXW] 1DQHWWH *ODVJRZ DQG 7DUD (LQVZHLOHU -Há&#x201A;&#x2021; +HIHO 5XKO¶V 'XEXTXH PDQDJHU LV WKH PDQDJLQJ EURNHU IRU WKH Rá&#x201A;&#x2C6;FH ³5XKO 5XKO 5HDOWRUV LV H[FLWHG WR KDYH DQ Rá&#x201A;&#x2C6;FH LQ WKH *DOHQD DUHD DQG WR FRQWLQXH WKH WUDGLWLRQ RI H[FHSWLRQDO customer service shared by both 5XKO DQG 0F&R\ ´ VDLG &DUROLQH 5XKO

3UHVLGHQW RI 5XKO 5XKO 5HDOWRUV ³:H ORRN IRUZDUG WR ZRUNLQJ ZLWK WKH talented agents of McCoy Real Estate to enhance their services and tools in *DOHQD DQG WKH *DOHQD 7HUULWRU\ ´ ³:H DUH WKULOOHG WR SDUWQHU ZLWK 5XKO 5XKO 5HDOWRUV ´ VDLG 0LNH 0F&R\ ³, ORRN IRUZDUG WR IRFXVLQJ RQ KHOSLQJ P\ FOLHQWV EX\ DQG VHOO UHDO HVWDWH :H believe that this partnership will add value to our community through tools OLNH 5XKO+RPHV FRP DQG WKLV TXDUWHUO\ )DFWV 7UHQGV UHSRUW ´ Ruhl&Ruhl Realtors, the largest privately-owned real estate company in ,RZD KDV RWKHU UHVLGHQWLDO VDOHV Rá&#x201A;&#x2C6;FHV located in Bettendorf, Burlington, Cedar

5DSLGV &OLQWRQ 'DYHQSRUW 'H:LWW 'XEXTXH ,RZD &LW\ 0DTXRNHWD DQG Muscatine, Iowa; and in Moline, Illinois.

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Homes Prices on Their Way Up All of our regional Metropolitan 6WDWLVWLFDO $UHDV 06$V H[SHULHQFHG D SRVLWLYH JDLQ DV ¿YH \HDU KRPH appreciation in our region was between DQG Federal Housing Finance Agency (FHFA) Deputy Chief Economist Andrew /HYHQWLV VDLG ³0RUWJDJH UDWHV GXULQJ the quarter remained slightly elevated relative to most of last year, but demand IRU KRPHV UHPDLQHG YHU\ VWURQJ :LWK housing inventories still languishing at H[WUHPHO\ ORZ OHYHOV WKH VWURQJ GHPDQG OHG WR DQRWKHU H[FHSWLRQDOO\ ODUJH TXDUWHUO\ SULFH LQFUHDVH ´ ,Q WKH SDVW \HDU KRPH SULFHV DUH XS LQ 'XEXTXH LQ ,RZD &LW\ Metropolitan Statistical Areas (MSAs)

Cedar Rapids, IA Davenport-Moline5RFN ,VODQG ,$ ,/ Des Moines:HVW 'HV 0RLQHV ,$ Dubuque, IA Iowa City, IA USA

LQ WKH 4XDG &LWLHV DQG LQ Cedar Rapids. This compares to other FLWLHV 'HV 0RLQHV XS DQG &KLFDJR XS 7KHUH LV FRQVLGHUDEOH YDULDWLRQ based on price range and location of SURSHUWLHV ZLWK PRUH Dá&#x201A;&#x2021;RUGDEOH SURSHUWLHV appreciating more. ³7KLV LV WKH EHVW WLPH WR VHOO HYHU ´ VDLG &DUROLQH 5XKO 3UHVLGHQW RI 5XKO 5XKO 5HDOWRUV ³ZLWK D VKRUWDJH RI LQYHQWRU\ LQ RXU Dá&#x201A;&#x2021;RUGDEOH SULFH UDQJHV DQG KRPH appreciation increasing, this is an ideal time for move-up buyers. Depending on \RXU ORFDO PDUNHW \RX FRXOG EH VHOOLQJ LQ D VHOOHU¶V PDUNHW DQG EX\LQJ LQ D EX\HU¶V PDUNHW &RQVXOW ZLWK \RXU ORFDO UHDO HVWDWH SURIHVVLRQDO IRU PRUH LQIRUPDWLRQ ´

Percent Change in House Prices 1 Year 5 Year

2017 1st Quarter National Ranking of 257 MSAs*

+6.00%

208

Through June Burlington Area (Southeast Iowa Regional Board of

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

(DVW RI , 0HFKDQLFVYLOOH $QDPRVD 0W 9HUQRQ / :HVW RI , :DOIRUG )DLUID[ $WNLQV HWF &RUULGRU $UHD 6RORQ (O\ 6ZLVKHU Condominiums Clinton, Camanche & Fulton (Quad City Area Realt DeWitt (Quad City Area Realtor Assoc.)

Dubuque Area (Dubuque Board of Realtors) Dubuque 1RUWK 6RXWK DQG :HVW 'XEXTXH Illinois :LVFRQVLQ

Galena & Galena Territory (Realtor Assoc. of North *DOHQD *DOHQD 7HUULWRU\ Galesburg Area (Capital Area Association of Realto Illinois Quad Cities (Quad City Area Realtor Assoc.

5RFN ,VODQG 0LODQ 5XUDO 5RFN ,VODQG &RXQW\

,QIRUPDWLRQ FRXUWHV\ RI )HGHUDO +RXVLQJ )LQDQFH $JHQF\ )+)$ IRU ¿UVW TXDUWHU )+)$ VWDWV DOZD\V UXQ RQH TXDUWHU EHKLQG 7KHLU IXOO UHSRUW is accessible at www.fhfa.gov. *Rankings based on annual percentage change in house prices.

Moline &RDO 9DOOH\ 5XUDO 0ROLQH 0LVFHOODQHRXV East Moline & Silvis

Mid-Year Comparison of Quad Cities Real Estate Activity Sales

Totals 2,416 2,331

IA 550 602

Mercer County Henry County Condominiums Iowa Quad Cities (Quad City Area Realtor Assoc.)

2017 2016

IA

2015

2,123

1,626

/H&ODLUH 3OHDVDQW 9DOOH\ 3ULQFHWRQ

2014

1,968

1,649

North Scott County

2013

2,014

1,636

2012

1,817

1,883

Iowa City Area (Iowa City Area Assoc. of Realtors)

2011

1,634

2,106

Iowa City

2010

1,897

2,039

2009

1,633

1,938

2008

1,936

2,160

Southeast Iowa City

2007

2,182

2,099

Southwest Iowa City

2006

2,272

2,092

2005

2,302

885

1,845

2004

2,331

1,948

Muscatine & Wilton Area (Muscatine Board of Real

2003

2,110

1,766

Muscatine

2002

2,133

1,657

2001

2,151

1,756

2000

2,087

1,426

4 â&#x20AC;¢ RuhlHomes.com

IL

Listings

3RUW %\URQ 8SSHU 5RFN ,VODQG &RXQW\

IL

Totals 1,289 1,421

Davenport Bettendorf & Riverdale %OXH *UDVV %Xá&#x201A;&#x2021;DOR 'XUDQW :DOFRWW

Miscellaneous Condominiums

Coralville Northwest Iowa City Northeast Iowa City

Corridor Area Miscellaneous Condominiums

:LOWRQ Muscatine Outlying Condominiums

Southwest Wisconsin Area (S. Central Wisconsin M

7KLV UHSUHVHQWDWLRQ LV EDVHG LQ SDUW RQ GDWD VXSSOLHG E\ WKH 5($/725 $VVRFLDWL The counties we track for the Burlington Area are Des Moines, Henry, and Lee in

REGIONAL RESIDENTIAL REAL ESTATE ACTIVITY Current MLS Listings Realtors)

Realtors)

LVERQ HWF

or Assoc.)

hwest IL)

ors) .)

% of Active Listings

549

MLS Board)

2017 Sales Volume

2017 # Sold

$123,500

$60,528,800

490

% of Unit Sales

Sales/ List

2016 # Sold

2016 Avg. Sales Price

2016 Sales Volume

95%

469

$116,100

$54,442,100

$181,400

$424,841,700

2,342

99%

2,233

$173,100

$386,591,900

8%

205

65

5%

8%

286,000

50

2%

202,800

222

6%

265

20%

1,282

304

$107,800

$24,893,300

231

86%

223

$98,900

$22,051,000

28

$164,200

$8,865,800

54

94%

46

$176,700

$8,130,000

356

$194,100

$130,849,500

674

95%

599

$182,200

$109,130,300

226

86

28

8%

5%

316

5%

$174,200

$15,849,000

8 91

84%

84

$182,000

$15,283,900

80

259

25%

52 261

85% 94%

$94,100

$24,558,200

268

$87,600

$23,475,600

739

$118,800

$134,964,400

1,136

8%

96%

1,040

$117,100

$121,738,500

258

6%

55

5%

60

8%

202,500

56

8%

80

6%

98%

1,291

$185,500

$239,495,100

550

tors)

2017 Avg. Sales Price

$199,500

$255,342,100

1,280

682

50

8%

55

68

6%

66

5%

56

250,800

28

5%

1,204

8%

8%

$386,148,800

98%

1,532

$233,200

1,656

$219,200

$335,885,400

65

5%

6%

2%

2%

2%

66

5%

6%

82

5%

55

268,200

$154,900

$42,281,000

273

96%

266

$137,900

$36,677,100

173

65%

62

60

6%

$137,900

$34,899,400

253

91%

228

$136,600

$31,155,700

249

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Iowa First-Time Homebuyers Savings Program %HJLQQLQJ LQ WKRVH ORRNLQJ WR EHFRPH ¿UVW WLPH KRPHEX\HUV LQ ,RZD will have a new resource available to WKHP *RYHUQRU 7HUU\ %UDQVWDG VLJQHG WKH OHJLVODWLRQ WR PDNH WKH )LUVW 7LPH +RPHEX\HUV 6DYLQJV 3URJUDP Rá&#x201A;&#x2C6;FLDO 7KLV SURJUDP DXWKRUL]HV WD[ SUHIHUUHG First-Time Homebuyer Savings Accounts.

This account has to be in the name RI D VROH LQGLYLGXDO ZKR LV D ¿UVW WLPH homebuyer. According to the code, \RX DUH D ³¿UVW WLPH KRPHEX\HU´ LI you have not owned a single-family or multi-family residence for the prior three years. You must also meet this FULWHULD ZKHQ QDPHG DV D EHQH¿FLDU\ of an account and when applying the money towards a qualifying purchase.

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An individual can be named as the EHQH¿FLDU\ RI PXOWLSOH DFFRXQWV DQG WKH QDPHG EHQH¿FLDU\ FDQ DOVR EH changed at any time. This means grandparents or parents can open an account in the name of their grandchild RU FKLOG 7KHVH ¿UVW WLPH KRPH EX\LQJ savings accounts must be interest bearing savings accounts established ZLWK DQ ,RZD ¿QDQFLDO LQVWLWXWLRQ $FFRXQW KROGHUV PD\ H[FOXGH \HDUO\ deposits from Iowa adjusted gross LQFRPH LQGLYLGXDOV PD\ H[FOXGH XS WR $2,000 annually, and married couples ZKR ¿OH D MRLQW UHWXUQ PD\ H[FOXGH XS WR LI WKH\ XWLOL]H D MRLQW DFFRXQW Individual account holders may not H[FOXGH PRUH WKDQ LQ WKHLU lifetime, and married couple may not H[FOXGH PRUH WKDQ <HDUO\ LQWHUHVW HDUQHG FDQ DOVR EH H[FOXGHG from Iowa income. :LWKGUDZDOV PXVW EH XVHG E\ WKH

EHQH¿FLDU\ WR SXUFKDVH D VLQJOH IDPLO\ KRPH LQ ,RZD ZLWKLQ \HDUV RI WKH date the account was established. If the money is withdrawn for any other SXUSRVH RU LW LV QRW XVHG LQ \HDUV the account holder must include the ZLWKGUDZDO DPRXQW LQ KLV KHU ,RZD income. The account holder will also EH DVVHVVHG D WD[ SHQDOW\ HTXDO WR percent of the withdrawal amount. The RQO\ H[FHSWLRQV DUH LI WKH ZLWKGUDZDO occurs because of the death of the account holder or because of garnishment, levy, or court order.

Maximum Contribution Tax Exclusions Annually

Lifetime

Individual

$2,000

$20,000

Married

Regional New Construction Home Sales Through June Cedar Rapids Area Houses &RQGRV 9LOODV Dubuque Area Houses &RQGRV 9LOODV Illinois Quad Cities (Rock Island County) Houses &RQGRV 9LOODV Iowa Quad Cities (Scott County) Houses &RQGRV 9LOODV Iowa City Area Houses &RQGRV 9LOODV Total Regional Combined

Active Inventory 6/30/15

Active Inventory 6/30/16

Active Inventory 6/30/17

% Change in Inventory from 2016

Sales 2015

Sales 2016

Sales 2017

% Change in Sales from 2016

133

42

8 5

2 110

360 202

650

150

66 51

7 6

94

338

640

124

64

20 10

6 95

22 277

570

-17%

-26% +25%

+43%

+500% +1%

-18%

-11%

157

68 30

0 5

112

177

481

139

56 46

5 2

109

28 212

85 511

170

39

6 6 0 112 80

222

549

+22%

-15%

-22% +20% +200%

+3%

+5% -6% +20% +7%

Quad Cities MLS Statistics - Iowa & Illinois Combined Through June

2013

2014

2015

2016

2017

Current MLS Listings Average Sales Price Total Sales Volume Total # of Sales YTD

6 â&#x20AC;¢ RuhlHomes.com

% Change 2016 vs. 2017

+8.0%

New Housing Starts Through June Burlington Area Burlington :HVW %XUOLQJWRQ Cedar Rapids Area Cedar Rapids Marion Rural Linn County Hiawatha & Mechanicsville Areas Dubuque Area Dubuque East Dubuque *DOHQD Jo Daviess County 3HRVWD Surrounding Dubuque Area Illinois Quad Cities 0ROLQH &RDO 9DOOH\ 5RFN ,VODQG East Moline & Hampton Colona 3RUW %\URQ *HQHVHR 5XUDO 5RFN ,VODQG &RXQW\ 0LODQ Silvis :KLWHVLGH &RXQW\ Iowa Quad Cities Davenport Bettendorf Rural Scott County (OGULGJH /RQJ *URYH /H&ODLUH 3ULQFHWRQ %OXH *UDVV FLW\ RI Iowa City Area Iowa City Coralville North Liberty Rural Johnson County :LOOLDPVEXUJ :HOOPDQ .DORQD :HVW /LEHUW\ Muscatine Area Muscatine Muscatine County :LOWRQ Other Areas Clinton 'H:LWW 0DTXRNHWD 3UHVWRQ %HOOHYXH Total Regional Starts

2014 2008

2015

2016

2017

12

5 253

60

162

0

50 5

0

2

2

202

224 85

2 0 16 2

5 23 6

942

18

307

135

42 8

0

8

191

20

196 58

5 2 22 8

0 21 8 5 8 932

11

0 324

180

0 5

8 82 97 66

242 55

28 5 199 80

5

18

0 22

6

1,093

17

2 281

133

67

0 2 2 0

8 193 56

25

159

6

21 6

0 45

6

916

% Change 2016 vs. 2017 +55%

+200% -13%

+25%

-26% -52%

-80%

-31% -50%

0% +6% 0%

-20% +2%

-20% -20%

-50%

+17%

0% 0% +105% +256% 0% 0% -16%

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Condo Sales Set the Pace in New Construction Market Regional Multiple Listing Services 0/6V UHSRUW D <7' LQFUHDVH RI LQ QHZ KRPH VDOHV HQHUJL]HG E\ DQ increase in the sale of new condos.

1HZ KRXVH VDOHV ZHUH XS IRU WKH same period. Sales increases were DFFRPSDQLHG E\ DQ GHFOLQH LQ available inventory. Some of the lower LQYHQWRU\ QXPEHUV FDQ EH H[SODLQHG E\ current sales of older inventory and the continued popularity of pre-sold homes DW PLG WR KLJKHU SULFH SRLQWV 3UH VROG homes rarely show up as inventory and are often not reported to the MLSs until the time of closing.

(DFK PDUNHW UHSRUWHG YDULHG UHVXOWV which are detailed on the chart on page 6.

1HZ KRXVLQJ VWDUWV DUH VKRZQ RQ SDJH ,RZD &LW\ OHDGV WKH UHJLRQ ZLWK D WR UDWLR RI H[LVWLQJ YV QHZ KRPH VDOHV 7KH <7' UHJLRQDO DYHUDJH LV WR 3ULFH WUHQGV FRQWLQXH XSZDUG DV LOOXVWUDWHG LQ WKH FKDUWV EHORZ Houses: YTD 2017 YTD 2016 YTD 2015 %HORZ .

.

$ERYH .

Condos: YTD 2017 YTD 2016 YTD 2015 %HORZ .

.

$ERYH .

Following is a brief summary of activity LQ PDMRU PDUNHW DUHDV CEDAR RAPIDS: 7KLV PDUNHW VHJPHQW reported the highest sales gain in the region at 22%. House sales were up ZKLOH FRQGRV ZHUH XS 7KHVH sales consumed some standing inventory, UHVXOWLQJ LQ WKDW ¿JXUH GURSSLQJ 1HDUO\ 50% of area house sales were below . DQG RI FRQGRV ZHUH XQGHU . PDNLQJ &HGDU 5DSLGV WKH PRVW Dá&#x201A;&#x2021;RUGDEOH QHZ KRPH PDUNHW LQ WKH UHJLRQ DUBUQUE: 6DOHV DUH Rá&#x201A;&#x2021; WR D VORZHU VWDUW WKDQ ODVW \HDU GRZQ <7' +RZHYHU with inventory up 25%, both new houses and condos are more available in the PDUNHW &XULRXVO\ KRXVH VDOHV EHORZ . DUH XS EXW FRQGR VDOHV RI WKH VDPH SULFH DUH GRZQ <7' IOWA CITY: Condo sales are up 20% Condo Sales Set the Pace continued on page 8 RuhlHomes.com â&#x20AC;¢ 7

Corporate Relocation Center 9LFWRULD $YHQXH 6XLWH 'DYHQSRUW ,$ 5(7851 6(59,&( 5(48(67('

Condo Sales Set the Pace continued from page 7

YTD, which has helped overcome a 6% drop in house sales and netted the area a 5% unit increase. The outlying areas combined for a 62% increase in sales, while Iowa City saw no change, 1RUWK /LEHUW\ VXá&#x201A;&#x2021;HUHG D ORVV DQG &RUDOYLOOH 7Lá&#x201A;&#x2C6;Q VDZ D LQFUHDVH LQ XQLW VDOHV ,RZD &LW\ DQG &RUDOYLOOH 7Lá&#x201A;&#x2C6;Q HDFK DFFRXQWHG IRU RI WKH DUHD PDUNHW VKDUH

in sales. However, Iowa City represents 60% of all new homes inventory. Area inventory is up 5% vs. last year.

QUAD CITIES: Both houses and condos showed modest gains, combining for D LQFUHDVH LQ VDOHV DQG DOVR D increase in inventory. 50% of houses sold LQ 6FRWW &RXQW\ ZHUH DERYH . DQG RI FRQGRV VROG ZHUH DERYH .

PDNLQJ WKLV WKH OHDVW Dá&#x201A;&#x2021;RUGDEOH PDUNHW

The

VHJPHQW LQ WKH UHJLRQ 5RFN ,VODQG County sales, while increased, were SULPDULO\ EHORZ . 7KHUH KDYH EHHQ QR 0/6 UHSRUWHG FRQGR VDOHV LQ RYHU PRQWKV LQ 5RFN ,VODQG &RXQW\ New developments across the region FRQWLQXH WR UHÃ&#x20AC;HFW JURZLQJ FRQ¿GHQFH on the part of builders, developers and consumers. It will never be more Dá&#x201A;&#x2021;RUGDEOH WR ³%XLOG <RXU 'UHDP´

way to a new

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