May 2018 Housing Report
June 11, 2018
May Housing Trends
Home sales were on the rise in May as the median sale price increases and days on market decreases according to the housing trends reported by the Des Moines Area Association of REALTORS® (DMAAR).
1,498 homes sold in May 2018 which is up almost 24 percent from April at 1,212 homes sold. The median sale price increased 3.3 percent over April 2018 and up 10.8 percent over May 2017.
Days on market dropped slightly from 60 days in April 2018 to 57 in May 2018.
The number of properties currently for sale has increased 9.3 percent with 3,417 active listings in the metro area. April 2018 showed 3,127 active listings.
63 percent of homes sold in May 2018 were financed conventionally. 13.6 percent of homes sold in May were cash purchases and 10 percent were financed with an FHA loan.
Several Des Moines Area Association of REALTORS® leaders went to Washington D.C. in Mid-May to fight for property rights alongside Realtors® from across the country at the National Association of REALTORS® Annual Legislative Meetings and Trade Expo. “Realtors® work for you when buying or selling your home and Realtors® fight for property rights in local, state, and federal government,” said Brennan Buckley, President of the Des Moines Area Association of REALTORS®. Realtors® work under a strict code of ethics and are working toward a safer home buying and selling experience with DMAAR’s Safety Pledge initiatives. "7 Reasons to Work with a REALTOR®" is a great article explaining the top reasons to choose to work with a Realtor®!