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Home contracts down, prices up

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The Des Moines Area Association of Realtors said today that though the number of contracts signed by local home buyers was down to 7,677 in 2010 from 8,522 the prior year, the Des Moines housing market is still in better shape than markets in some other parts of the country, following the expiration of the housing tax credit. The average home price in the Des Moines market increased in 2010 by more than $3,200 to $160,605. Last year, 40 percent of Des Moines home buyers used conventional financing methods to fund their purchases and 20 percent of them paid cash. For more information, go to www.BuyNowDSM.com.