Posts from December 6th, 2011
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6
Home Prices Strong in our Markets
Home prices in our markets continue to be resilient when compared to the rest of the country, ranking in the top 16% in the nation. Nationally home prices have fallen 18.56% in the last five years, but all of our markets' home prices are up: 8.06% in Dubuque; 5.23% in the Quad Cities; 2.39% in Cedar Rapids; and 2.27% in Iowa City. This compares to other cities: Chicago, IL down 21.93%; Fresno, CA down 47.22% and the Daytona Beach, FL area down 48.67% According to the Federal Housing Finance Agency, of the 306 MSA's (Metropolitan Statistical Areas) ranked by home price appreciation, all of our markets in eastern Iowa ranked in the top 16% in the nation – Dubuque at 2nd, the Quad Cities at 12th; Iowa City at 40th; and Cedar Rapids at 50th. Analysts report that 3rd quarter home values were relatively stable and those markets that have shown sharp declines appear to be on the upswing. Our local markets...
