Home prices are on the rise in the Cedar Rapids area. What does this mean for you? As a buyer? As a seller? As a homeowner? Let’s take a closer look…
Federal Housing Finance Agency (FHFA) data shows an increase of .46% in homes prices in the Cedar Rapids region for the fourth quarter of 2013. (see chart and website below)
You’ll notice that home prices in Cedar Rapids did not appreciate as much as other markets. This is because we did not see as drastic price drops like in other parts of the country.
Our president, Caroline Ruhl says this about the data: “The increase in home price appreciation has been modest but steady. We tend to be a more stable market without the extreme highs and lows, which makes it a good area to buy or sell a property.”Caroline went on to say that the continued shortage of homes in our area may impact prices. (This could make them higher because there is more demand than supply.)
If you’re considering selling your home, don’t wait! You’ll want to list as soon as possible to better position your home and face less competition. Contact me to track market data for your neighborhood or provide a free evaluation of your home. www.BrocketteHomes.com; BethBrockette@RuhlHomes.com; 319-551-8692 (Cellular Phone).