Iowa realtors will tell you now is the time to sell your house.
The Realtors Association, points to new housing developments in the metro. They say buyers need to act quickly because despite the development, the numbers of homes are not meeting the demand of buyers.
Huber Grading Inc., a metro contracting company, says it broke ground on 350 homes last year. This year, they’re predicting to dig basements for 400 homes.
On average, homes are lasting 98 days on the market and there are multiple bidders.
Realtors credit low interest rates for the increased demand.
“So when you looking at 4 percent or 4.25 percent that’s very desirable interest rate,” says the Iowa Association of Realtors CEO, Dave Bert.
Bert predicts interest rates to spike in 2016.