Have you wondered what home prices in Iowa have been doing? I know as a homeowner, I have.
I was getting my car washed on Saturday, and picked up the Des Moines Register business section and found an interesting article that included median prices across the state in 2007 and their change since 2006. Here’s a quick Tyler Osby summary of the chart I’m talking about…you can tell by the fuzziness. (I have to do this since the Des Moines Register isn’t cool enough to put it on their ‘online article’)
Again, these numbers are based on median home prices. Statistics can be manipulated to look super sexy in one scenario and not so sexy in another. Take into consideration if there are many more higher priced homes (say the handful of homes in Des Moines worth over 1 Million) sell in 2006 and not in 2007 it could really hammer those numbers (at least for ‘median home prices’).
If you want to see some specific statistics ran, just let me know. I know plenty of people in the real estate business that like crunching numbers as much as I do.
I have to call the Register out on being a few weeks late with the article I based this chart on. The article was titled ‘Down Payment Cost May Grow for Borrowers’. If you subscribe to my blog, you saw this coming weeks ago. Paula Lavigne, you’re on notice (a little Stephen Colbert humor). If Paula does happen to find this though – I really enjoyed her story and it was well written and researched. Keep up the great work. I’d be happy to help keep you up on how the mortgage market is effecting Iowans. The easiest way is to just subscribe.
Here’s the original article from The Des Moines Register.
