Posts from August 17th, 2011
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17
Home Prices Stable in Our Markets
Our markets continue to be shielded from the rest of the country's harsh decline in home prices, with our markets seeing a distinct increase, especially in the Quad Cities and Dubuque. Nationally home prices have fallen 17.50% in the last five years, but all of our markets' home prices are up: 8.51% in Dubuque; 6.35% in the Quad Cities; 3.68% in Iowa City; and 2.73% in Cedar Rapids. According to the Federal Housing Finance Agency, of the 309 MSA's (Metropolitan Statistical Areas) ranked by home price appreciation, all of our markets in eastern Iowa ranked in the top 30% in the nation – Dubuque at 11th; Quad Cities at 30th; Cedar Rapids at 79th; and Iowa City at 92nd. Analysts attribute national declines to the many foreclosures and short sales, as our markets have not been badly impacted as compared to the rest of the country. Local markets continue to provide a much more stable envir...
