Current and Future Real Estate Market of the City of Des Moines

Although Des Moines is the most chosen city in the state of Iowa for being its capital, it is also continuously preferred by thousands of people looking for a city that offers a good quality of life.

Thanks to its stable economy and constant population growth, the real estate market in Des Moines is usually solid and balanced. However, this year the city has experienced a gradual decline in home sales due to constant price fluctuations in properties and high interest rates.

These variations have caused home prices to rise a small percentage compared to previous years, but the decrease in sales is not significant enough to determine that the real estate market in Des Moines is not moving or is in decline. Despite this, residents continue to buy and still need affordable housing.

Currently, buyers are encouraged to purchase because the real estate market has a wide variety of properties that allow them to choose the one that best fits their needs and budget. This abundant supply is due to the city and large investors creating and developing more affordable housing projects for residents.

Although it can be said that the real estate market in Des Moines currently has a good supply of homes, it is slightly lower than what was observed in previous years. However, the volume of homes expected to be completed soon will provide more balance and stability to the city’s market.

Despite the current good availability of homes, it remains competitive, especially for properties located in those communities considered the best places to live in Des Moines. However, even though there is a variety of offers and competitiveness, buyers are not in a hurry to purchase and take more time to decide and negotiate prices.

It is clear that this increase in offers is currently a point in favor of buyers; however, sellers and homeowners are witnessing that this current dynamic of the real estate market is not so favorable, as homeowners are eager to sell, some even lowering the value of their homes, and real estate agents want to receive their commissions more frequently.

Due to the dynamism and inclination of the current real estate market, it is expected that in the near future it will become much more balanced, where both buyers and real estate agents and homeowners will benefit in equal proportion.

Regarding the housing developers who drive this real estate market, it is expected that the city will continue to approve multiple property projects so that Des Moines can continue to develop and increase the number of affordable homes in its communities as the number of its residents continues to grow.

For a real estate market to be attractive, balanced, and progressive in a city, it is necessary for it to have a good economy, education, health, and employment; all characteristics very well covered by the city of Des Moines.

Available Foreclosures:

Des Moines: 150 homes available.

By Elías DaSilva | 22 de Noviembre de 2024.