September house sales down from August, still above year-ago levels
BPC Staff Oct 12, 2015 | 8:05 pm
1 min read time
221 wordsAll Latest News, Real Estate and DevelopmentWith home sales occurring a scant 45 days on average after a house is listed for sale, the Des Moines Area Association of Realtors (DMAAR) is offering tips for closing a deal quickly. The tips are included in a report today on September house sales. The days of a 30-day closing are long past, DMAAR President Robin Polder said in a release. Part of that is a result of a market that is moving at a fast pace, and the other reason is new federal lending regulations that took effect Oct. 3. Those regulations require lenders to issue a loan estimate form and the closing disclosure form that are intended to eliminate any confusion about the actual mortgage costs and replace other paperwork. Polder said it is best to get preapproved for a loan before making an offer on a house and to stay in constant contact with a real estate agent during the offer and purchase process. Back to the market: Buyers closed on 1,032 purchases in September, compared with 911 a year ago, and signed contracts to purchase another 969 houses, up from 921 last year. In August, 1,090 sales were closed, and there were 1,112 pending sales. The median sales price in September was $177,750, down from $182,250 in August, but still above the year-ago figure of $169,000.