Realtors see some balance returning to house market
Greater Des Moines house sales increased in May while pending sales dropped, according to the Des Moines Area Association of Realtors. The Realtors group also said some segments of the market are nearing equilibrium, meaning that inventory could be catching up with the pace of sales. Here are the numbers: 1,369 houses were sold in May, up from 1,211 in April and down from 1,423 in May 2015; contracts were written last month for the future sales of 1,626 houses, a decline from 1,785 in April and an increase from 1,343 in May 2015. The median sales price last month was $181,500, up from $175,000 in April and $178,000 in May 2015. Houses that sold last month were on the market an average 93 days, compared with 65 days a year ago. The May inventory was 3,103, compared with 2,962 in April and 4,087 last year.