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Des Moines homes sales up 17 percent in May

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As the summer home-buying season gears up, Des Moines home buyers remain very active. In May, 731 contracts were closed, up 17 percent from April, according to statistics released today by the Des Moines Area Association of Realtors (DMAAR). The median sale price of a home increased to $143,000.
 
“All of our key housing numbers continue to trend upward, which indicates more buyers are entering the market,” said DMAAR President Les Sulgrove. “If we can maintain this momentum going into summer, Des Moines is poised to be in the real estate spotlight
because of our strong housing figures.”
 
The association¹s report shows that in May, there were 5,655 active listings, an increase of more than 105 homes, and homes were on the market for an average of 109 days. The number of contracts written rose to 870.
 
“The good news is the median price of a home in Des Moines has not changed more than $500 during the last few months,” Sulgrove said. “That tells us that home values are remaining steady in our market and not declining, as is the case in many parts of the country.”
 
In May, 311 metro homebuyers financed a home using conventional financing, while 221 buyers used a Federal Housing Administration loan. Cash purchases made up 147 of the transactions, and the remaining purchases used alternative financing methods.

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