Iowa home sales drop 3% in 2007

Home sales across the state fell about 3 percent last year over 2006, a new report shows, while the statewide median sale price was flat.

Iowa home sales dropped to 37,534 last year from 38,674 in 2006, an Iowa Association of Realtors’ report shows. Last year’s median home sale price was $128,750, $550 more than in 2006.

Sales nationally have fallen, too: Existing-home sales were down about 13 percent in 2007 and new-home sales dropped 26.4 percent.

January had 6,424 homes listed, flat compared with a year ago, the report showed. Homes were on the market an average of 90 days, four days less than last year.

By DONNELLE ELLER, The Des Moines Register