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Posts from February 8th, 2013

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February 8th, 2013 by

2012 brought modest growth to new home sales results in the Cedar Rapids area markets.   The Multiple Listing Service reported an increase in overall new home unit sales of 3% over the totals for 2011, as shown on an attached table.  House sales dropped 2% while condo sales rose 13% for the year.  Broken down by market segment;  the Marion/Hiawatha/Robbins areas saw an overall increase of 17.9%, while the 4 Quadrants segment recorded 9.3% fewer unit sales than last year.            However, the real story here is not sales, but the sinking inventory level in this market.  As an additional attached table illustrates, local new home starts in 2012 were down 4%, compared to 2011. This follows on the heels of a 16% decrease in new house starts...

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