Posts in category 'Home Price Appreciation'

The Federal Housing Finance Agency published the 2023 Q4 Housing Price Index report and national data shows home prices rose 6.5 percent between the fourth quarter of 2022 and the fourth quarter of 2023. House prices were up 1.5 percent compared to the third quarter of 2023. Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.

The five-year home appreciation in our region was between 33.20% and 41.94% with all of our regional Metropolitan Statistical Areas experiencing positive gains.

In the past year, home prices in our markets have increased: +4.09% in Iowa City; +9.10% in Cedar Rapids; and +7.13% in the Quad Cities. This compares to other cities: Des Moines +4.59% and Chicago +6.96%. Of course, there is variation based on price range and location of properties, with more affordable properties appreciating more and expensive properties appreciating less.

Information courtesy of the Federal Housing Finance Agency (FHFA) for the fourth quarter of 2023. FHFA stats always run one-quarter behind. Their full report is available at www.fhfa.gov.

U.S. house prices increased modestly over the course of 2023," said Dr. Anju Vajja, Acting Deputy Director for FHFA's Division of Research and Statistics. "However, the market showed signs of softening as house price appreciation was lower in the fourth quarter of the year than in the previous quarter."

"The latest FHFA.gov HPI Report highlights the continued stability of our local housing market, with most areas still experiencing lower than normal inventory levels. While there has been a year-over-year increase in listings, strong buyer demand continues to uphold a consistent supply and demand dynamic, leading to steady overall home price appreciation. However, it's important to recognize that, just as there are significant variations from market to market, individual neighborhoods and price points within our region also experience differing rates of appreciation," said Chris Beason, President of Ruhl&Ruhl Realtors.

Wondering how appreciation has affected your home? Contact your Ruhl&Ruhl Realtor to receive your free market analysis! Or contact us at 1.866.441.1776 or customerservice@ruhlhomes.com to be put in touch with a local, trusted expert!

Five-year home appreciation in our region was between 23.45% and 28.98% with all of our regional Metropolitan Statistical Areas experiencing positive gains. In the past year, home prices in our area have increased: +12.68% in Dubuque; +9.93% in Iowa City; 12.34% in Cedar Rapids; and +10.54% in the Quad Cities. This compares to other cities: Des Moines +15.08% and Chicago +13.35%. Of course, there is variation based on price range and location of properties, with more affordable properties appreciating more and expensive properties appreciating less. "High appreciation rates continued across housing markets during the first quarter of 2022," said William Doerner, Ph.D., Supervisory Economist in FHFA's Division of Research and Statistics. "Strong demand coupled with tight supply have kept prices climbing. Through the end of March, higher mortgage rates have not yet translated...

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Due to tremendous buyer demand for homes and limited inventory, home values have significantly increased. According to the Federal Housing Finance Agency, FHFA, the rate of appreciation in the MSA's we serve increased over the past 5 years between 18.76% - 22.6%, as shown in the the chart below.

Even more impressive is the increase in the prior 12 months which ranges from 5.99% in Iowa City to 9.08% in Cedar Rapids. FHFA data always runs a quarter behind, so this increase was only through June of 2021. Based on extremely strong 3rd quarter sales, we anticipate values will continue to appreciate, albeit at a slower pace, through the end of this year and likely through 2022.

This increase in home values makes now a great time for sellers to sell. It's also a good time to unlock the equity in a home with a cash out refinance that can be used for many purposes such as home improvements, buying an investment property, paying off debt, etc.

"During the second quarter, home prices nationally peaked in June with an 18.8% growth rate compared to a year ago",said Dr. Lynn Fischer, Deputy Director of FHFA's Division of Research and Statistics. The continuing appreciation in home prices and likely increase in mortgage rates will make now the best time to buy a new home before monthly payments increase. 

Information courtesy of the Federal Housing Finance Agency (FHFA) for the second quarter of 2021. FHFA stats always run one quarter behind. Their full report is available at www.fhfa.gov. 

"We have continued to experience sizable gains across our region in home values over the last year," said Caroline Ruhl, CEO, Ruhl&Ruhl Realtors. "To get a real sense of your local neighborhood real estate market, we suggest you meet with a Ruhl&Ruhl Realtor who can give you a summary of activity in your neighborhood."

About Ruhl&Ruhl Realtors A family-owned company since 1862, Ruhl&Ruhl Realtors has grown to 330 sales associates, 57 employees and 12 offices, selling more than 5,200 units in 2020 in eastern Iowa, northwest Illinois, and southwest Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, and Muscatine, Iowa; and in Galena and Moline, Illinois. For more information on Ruhl&Ruhl Realtors, visit their website at www.RuhlHomes.com.

Five-year home appreciation in our region was between 13.62% and 19.86% with all of our regional Metropolitan Statistical Areas experiencing positive gains. In the past year, home prices in our area have increased: +4.10% in Dubuque; +1.53% in Iowa City; +3.05% in Cedar Rapids; and +2.07% in the Quad Cities. This compares to other cities: Des Moines +2.19% and Chicago +2.23%. Of course, there is variation based on price range and location of properties, with more affordable properties appreciating more and expensive properties appreciating less, if at all. On a national level, "house prices recorded their strongest quarterly gain in the history of the FHFA HPI purchase-only series in the third quarter of 2020," said Dr. Lynn Fisher, Deputy Director of the Division of Research and Statistics at FHFA. "Monthly data indicate that prices continued to accelerate during the quarte...

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Dubuque Ranks Highest Regionally for One-Year Gain

Five-year home appreciation in our region was between 13.25% and 16.31% with all of our regional Metropolitan Statistical Areas experiencing a positive gain. "House prices have risen consistently over the last 31 quarters," said Dr. William Doerner, Supervisory Economist.  

"Although price growth is still positive, the upward pace is softening across the country, especially among states with the largest supplies of housing." In the past year, home prices have changed: +3.95% in Dubuque; +2.87% in Iowa City; +2.40% in Cedar Rapids; and +2.72% in the Quad Cities. This compares to other cities: Des Moines up 3.76% and Chicago up 2.76%. Of course, there is considerable variation based on price range and location of properties, with more affordable properties appreciating more. "Regionally, housing supply has been tightening," said Caroline Ruhl, CEO of Ruhl&Ruhl Realtors. "As a result, we see our home prices ap...

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