Home Price Analysis for Cedar Rapids Region

   These stats were supplied by the Cedar Rapids Area Association of REALTORS® (For informational purposes only)

• Home prices in the region have risen at a moderate pace in recent years.  There is little concern about a price bubble or a large price correction given the highly affordable conditions in the region
• The drop in mortgage rates-roughly one percentage point decrease in the past 12 months-have helped spur home buying.  That is not surprising since the affordable markets are less sensitive to interest-rate changes and more dependent on job market conditions.
• The affordable home price and the associated low mortgage servicing costs in the local region suggest that there is a good possibility of better-than-average price growth in the coming years, provided the local economy generates jobs at a respectable pace.

The =/- reflect the differences YTD to the previous year.
Data from http://www.crrealtors.org