(Radio Iowa) – The Iowa Association of Realtors report for March shows buyers had more homes to choose from. The Association’s statewide housing analyst, Les Sulgrove, says that’s important. “Listing inventory is up about 25 percent over the same time a year ago in fact you know the first of April we’ve got over 62-hundred homes on the market across the state,” Sulgrove says. “So that’s really good news for home buyers, because in the past they’ve all been fighting for the same house.”

The number of homes sold in March was down by just under two percent. Sulgrove says that’s an indicator that the market is back to pre-covid conditions. “Sales are slightly down compared to the last couple of years but I think that’s the key right there is that you know we’re no longer in really that COVID market where everything is selling extremely fast,” he says.
Sulgrove says getting back to more of a normal pattern is good for everyone.

“It gives homebuyers that chance to think about our decision besides instead of just making one on the spot, it also encourages homeowners that are sitting on the sidelines waiting to either jump into market as a seller themselves, they have that confidence knowing that you know they’re not going to maybe be out of a home if they sell their so quickly,” Sulgrove says. Interest rates are higher than they were a few years ago, but he says right now the key is those rates have been stable.

“A lot of homebuyers you know don’t want to make a decision when rates are either going up or going down, but as long as they’re kind of in that same stability that gives them the confidence to know what their payments going to be without the fear of you know moving target,” he says. Sulgrove says “As soon as school gets out homeowners have a chance to really focus on selling their home and like you said making that move between now and the beginning of school,” Sulgrove says. “So this is our busiest time of the year and I don’t expect any difference in that moving forward.”

He says there is more optimism now in the housing market then there has been as they move forward this spring.