What’s Inventory look like?
Inventory has increased in the Iowa City area from the last quarter of 2023, but there is still a shortage of all level housing. We are hoping that will increase so both buyers and sellers will have a variety to choose from.
New Listing
New Listing
What’s going on with Interest Rates?
We think there will be a mixed bag for the housing market in 2024. The Federal Reserve has indicated that the recent pause in rate hikes is a positive sign, potentially leading to more stable or even lower mortgage rates. It looks like the rate will be somewhere between 6% – 7%, but we suggest you always check with your local lender to get the correct information.
How’s the Market?
We’re fortunate in the Iowa City area not to be especially affected by national trends. The high interest rates did of course have an impact on home sales in 2023 and are likely to be a factor in 2024 too. That doesn’t change the fact that we live in a transient town and our spring market is always busy, regardless of the external factors. If moving is something you’re thinking about, you can be assured that as professionals we’ll make sure that you have all the latest information before you make any major decisions about buying or selling a home. Just reach out to Denise or Sherry. We’re here to help!