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Q4 2023: Goodbye Uncertainty, Hello Stability

By admin_leng | Published January 17, 2024

Say GOODBYE to the uncertainty that was 2023 and HELLO to the stability 2024 should bring! In the real estate industry, the fourth quarter months of 2023 ended with interest rates finally settling into a more predictable pattern. Housing market trends in 2023 were incredibly hard to predict – making planning very hard to do. As we close the door on yet another year, the environment feels as though things are shifting in our favor! Historically high interest rates of 2023 averted buyers. However, mortgage demand rose after interest rates lowered in the months of November and December. This end of year ease of interest rates and inflation should bring house hunters back in 2024. Baby boomers wanting to downsize […]

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Market Rebalancing: A Look at Q3 2023 and What to Expect in Q4

By admin_leng | Published October 25, 2023

MARKET CLEANUP IS HAPPENING The third quarter of 2023 finished very much as predicted. The housing market continues to rebalance. Overall, 2023 has consistently shown us that supply, demand, buyers, sellers, mortgage rates (and builders themselves) are positioning themselves in a way that is sustainable in our current economy.  As stated in our February blog, the market is cleaning itself up. Third quarter of this year trended on par with expectations. Q3 ended by showing total inventory available at just a slight increase, at a 2.8 month supply. ACTIVE INVENTORY Inventory movement on the market is creeping upward compared to the pandemic years. But total inventory remains significantly lower than 2017-2019 (the most recent “normal” years we have seen). Also, […]

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Q1 2023: THE MARKET REBALANCE IS UPON US

By admin_leng | Published February 28, 2023

We all knew it. The time would eventually come when the imaginary housing market reset button was pressed and the market itself rebalanced. It was bound to happen and we are now living through it. 2023 will be a clean up year. Supply, demand, buyers, sellers, mortgage rates, builders and more will strive to balance themselves in a way that is sustainable in our growing economy. Certain price points and communities have more supply than demand right now.  2023 will bring the clean up of new construction spec homes. A spec(ulative) home is one built on the idea it will easily sell for a profit. This might not be the case this year. Fundamentally, there are more new construction spec […]

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2022: A YEAR OF UPS AND DOWNS

By admin_leng | Published January 20, 2023

We can all agree. The past few years have been crazy for our industry. 2022 started strong, but we could feel the market beginning to cool by the end of the second quarter; a feeling that continued into Q3 and Q4. Many, many factors have been driving the real estate ups and downs as of late. The loudest of which has been the fluctuation of interest rates. The volatile rate environment in the latter half of 2022 does seem to be stabilizing and industry optimists are hopeful buyers will return. The Federal Reserve may even be prepared to help, by slowing the uptick in interest rates as they see inflation numbers declining. Other promising factors are at play as well. […]

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Q1 2021 is HOT despite record freezing temps!

By admin_leng | Published February 26, 2021

The ending of the first quarter of 2021 marks the one year mark for the global coronavirus pandemic. Who could have predicted we would also be in the one of the robust housing markets any of us have ever experienced? What brought about this market, we ask ourselves? Was it the extremely low interest rates? Could it be the stimulus money that was introduced into our economy? Is the work from home requirements that our workforce was forced to accommodate? We may never fully understand all the factors that got us to where we are today but everyone can agree; this is uncharted territory for the housing market, both in new construction and resale. When looking at 19 different communities […]

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Q3 2019: Des Moines Metro Housing Snapshot

By Kalen | Published October 25, 2019

Like it or not, autumn has arrived and old man winter is fast approaching in Central Iowa. Speaking of crazy Iowa weather, it has actually played a very interesting role in this year’s real estate sales and market activity. Excessive rainfall in recent months helped turn some building sites into impromptu slip-and-slides, causing delays in construction and contributing to a lower-than-expected number of housing starts. Developers, too, haven’t been able to get in all the plats they had hoped and many are playing catch up following a super wet summer and spring. Currently, interest rates, talk of future recession, and a dip in home sales from prior years are each at the forefront of everyone’s mind. In reality, weather conditions […]

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Q2 2019: Des Moines Metro Housing Snapshot

By Kalen | Published July 15, 2019

There’s some welcome news in today’s market for buyers and sellers ready to make the most of the summertime house hunting and homebuilding season. MORTGAGE RATES dropped since April, and are currently at the lowest levels we have seen for over 18 months. So the market is seeing some traction as more buyers are showing an interest in making offers, due to the improved affordability! As of July 1, the total number of active single-family homes on the Des Moines Metro Market, including re-sales and new construction homes, had increased 5.9 percent to 2,370, compared with a year earlier. When you single out the active inventory of new construction single-family homes, we actually saw a decrease from 853 a year […]

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Q1 2019: Des Moines Metro Housing Snapshot

By Kalen | Published March 01, 2019

The number of single-family homes listed in the Des Moines Metro inched slightly upward in 2018, as sales growth slowed and the affordability of new construction contributed significantly to our present market conditions. There are currently 2,132 active single-family homes on the Des Moines market, translating into a 2.8-month supply and an approximate increase of 8.7 percent from a year ago. Given that a six-months supply reflects stability, we have continued to view the Des Moines Metro through the lens of a seller’s market, especially in price points below where builders are able to provide inventory. What we are seeing today is the tale of two markets, including a resolute “resale” market with the majority of listings under the $300,000 […]

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Q4 2018: Des Moines Metro Housing Snapshot

By Kalen | Published January 16, 2019

The start of a new year is always a great time for developers, builders and real estate professionals to reflect on the past and start mapping out the future. Two-thousand-and-nineteen is going to be a year of change as national homebuilders enter the Des Moines Metro and with affordability and rising interest rates being a concern. Personally, I get excited when I think about the validation of a strong market, one that is strong enough to attract the attention and confidence of national builders. At the same time, now is the time to be more intentional than ever with collecting and analyzing data on what is selling – to help determine where and at which price points to build. When […]

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Q2 2016: Des Moines Metro Housing Snapshot

By Kalen | Published July 27, 2016

Home sales in the Des Moines Metro are on track to break records this year as local REALTORS belonging to DMAAR have reported a total of 4,524 single-family homes sold as of July 1, 2016. Of those, 719 or 16 percent, are new-construction homes. Inventories of RESIDENTIAL REAL ESTATE are at an all time low, both locally and nationally. Today, the Des Moines-area has 2,150 single-family homes on the market–A 2.8 MONTHS SUPPLY–compared to 2,418 at the end of June last year. The inventory of new construction, includes 644 single-family homes on the market, which is up by 44 homes over a year-over-year basis. One may think that with the low inventory that buyers have to choose from, this would […]

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