CEDAR RAPIDS, Iowa - Home sales and prices are at a seven year high nationally. Showing the housing market is on its way to recovery according to the National Association of Realtors. In February the average home price was just below 174-thousand. That's a 12 percent increase from 2012.
The same is true locally, houses are selling like hot cakes all around the Cedar Rapids Area. One home on the Southeast side of Cedar Rapids sold in just four hours, another one in Springville listed with the same agent sold in just four days.
In January realtors saw record home sales, the problem is most homeowners still believe the market is Saturated and are holding off putting their home on the market creating low inventory and frustrated buyers.
"It's a tough world out there buyers are finding themselves in multiple offer situations in some cases missing out on the home they want to purchase so be aggressive," says Alissa Dietz, Skogman Realtor.
Dietz encourages homeowners thinking about selling not to wait until summer to put their home on the market.
If you can find a home, it is a good time to buy. Eligable buyers can still take advantage for 100 percent financing. There's also a new tax credit available for eligible first time home buyers and military veterans from the Iowa Finance Authority.