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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 continue to provide a much more stable environment for purchasing homes and investing in real estate. A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells nearly 3,800 homes in eastern Iowa, western Illinois and southwestern Wisconsin and is the largest privately-owned real estate company in Iowa. Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company. Headquartered in Davenport, Iowa, the company has 280 sales associates and 50 employees based in sales offices located in Bettendorf, Burlington, Cedar Rapids, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois. In addition to residential sales, Ruhl&Ruhl REALTORS offers services in relocation, new home sales, farm and land sales, senior services, real estate investment, mortgage services through 1862 Mortgage and insurance services through the Nelson Brothers Agency. For more information on Ruhl&Ruhl REALTORS, visit their website at www.RuhlHomes.com.
