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Des Moines home sales rise in May

Prices for homes in Greater Des Moines and sales of homes both rose in May, according to the Des Moines Area Association of Realtors.

Realtors closed 864 contracts in May, which is a 15 percent increase from April, according to a release. The average price of homes that sold increased by about $8,800 from April to May, to $158,729. 

The Des Moines metro area has seen consistent growth in the housing market in the last five months. 

“Last month, we saw closed sales increase 39 percent in the $250,000 to $500,000 price range, and in the $100,000 to $250,000 range, closed sales increased 21 percent,” said Ken Clark, president of the group. “Since home mortgage rates continue at historically low levels, it appears people are taking advantage of the rates and good prices to get more home for their money.”   

The association also found that 50 percent of the people who bought homes in May were first-time home buyers, according to the group’s website.

Fifty-two percent of buyers financed their homes through conventional financing.

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