Home Prices Steady in the Cedar Rapids Region

Press Release- July 2, 2014-The Eastern Iowa housing market continues to show strength, with prices slowly and steadily increasing in most communities. However, according to the Federal Housing Finance Agency (FHFA), home prices in the Cedar Rapids region have decreased 0.74 percent in the past year.

Nationally, home prices have increased 5.75 percent in the last five years, while the Cedar Rapids market is down 0.69 percent. This compares to other markets: Dubuque is up 6.85 percent, Iowa City is up 2.45 percent, Quad Cities is up 1.28 percent, Des Moines is down 2.16 percent, and Chicago is down 16.82 percent.

The first quarter was negatively impacted by extremely cold, snowy weather, Andrew Leventis, FHFA principal economist, said in a press release. Mr. Leventis added that modest inventories of homes available for sale will likely play a significant role in driving a price increase.

For the full FHFA report, visit www.fhfa.gov.

**All information provided by the July 2nd, Corridor Business Journal.

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