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August
29
29
Home Prices Appreciating in the Cedar Rapids Region
The eastern Iowa region continues its steady climb in home price appreciation – with the Cedar Rapids area showing positive gain. In the Cedar Rapids region, home prices are up 1.20% in the past year. This data is provided by the Federal Housing Finance Agency (FHFA) for the 2nd quarter of 2014 (see chart and website below). Nationally, home prices have increased 8.25% in the last five years, while the Cedar Rapids market is up 2.19%. This compares to other markets: Dubuque up 7.83%; Iowa City up 5.11%; the Quad Cities up 3.64%; Des Moines up 1.32% and Chicago, IL down 10.29%. Our local gains, while not as large, continue to be positive. We did not have the significant decline in home prices that other markets across the nation suffered, insulating our communities from the super highs and lows.
Information courtesy of the Federal Housing Finance Agency (FHFA) for second quarter 2014. FHFA stats always run one quarter behind. Their full report is available at www.fhfa.gov. *Rankings based on annual percentage change in house prices This spring, while not as strong as previous seasons, home price appreciation for the nation as a whole remained positive, said FHFA Principal Economist Andrew Leventis. In Cedar Rapids, the modest, yet steady increase in home prices has made a stable market – good for buyers and sellers. "Now is a good time to buy or sell," said Caroline Ruhl, President of Ruhl&Ruhl Realtors. "Buyers are ready to buy but there are simply not enough listings, especially in certain price ranges. If you have considered selling, please contact a Realtor for a consultation." A Realtor can complete a market analysis on your home and help you determine whether selling now will help you reach your goals. If you prefer to do your own research, Ruhl&Ruhl Realtors provides sold data for all properties sold in their 13 Multiple Listing Services (MLSs). Simply go to RuhlHomes.com and register for Ruhl Premier Access. You can also sign up for automated reports on any neighborhood to keep you informed on new listings, solds and price changes. 
| Metropolitan Statistical Areas (MSAs) | 2014 2nd Quarter Appreciation Ranking of 276 MSAs* | Percent Change in House Prices | |
| 1 Year | 5 Year | ||
| Cedar Rapids, IA | 220 | + 1.20% | + 2.19% |
| Davenport-Moline-Rock Island, IA-IL | 205 | + 1.73% | + 3.64% |
| Des Moines-West Des Moines, IA | 149 | + 3.14% | + 1.32% |
| Dubuque, IA | 197 | + 1.98% | + 7.83% |
| Iowa City, IA | 185 | + 2.38% | + 5.11% |
| USA | + 5.25% | + 8.25% | |
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