AGENT MLS HOME FINDER

The Des Moines real estate market seems to have suffered from the economic downturn, both in terms of traditional indicators of the housing market as well as throughout the other sectors of the economy. There have been some signs of strength in some parts of the real estate market, although the general consensus is that the situation in Des Moines is serious enough to warrant outside intervention from the local and federal governments.  This has even affected the agriculture section of the  Iowan economy, as reported by an October 12, 2009 article in the Globe Gazette. The piece, written by Rod Boshart, stated that “The head of the Iowa Mediation Service said Monday his office is bracing for a new wave of farm failures due to low commodity prices and increased input costs.”

In fact, overall revenues for the state of Iowa have been in serious trouble recently, as reported by an October 1, 2009 article in the Quad-City Times. The article, written by Rod Boshart, stated that “The likelihood of Gov. Chet Culver ordering an across-the-board budget cut this month went from a ‘maybe’ to ‘how deep’ with Thursday’s news that revenues took a double-digit plunge again in September. The 19.2 percent drop in net state receipts last month meant tax collections are running.” Even some attempts to help those affected by negative turns for real estate in Des Moines, according to an October 12, 2009 article in the Des Moines Register. The article by Donnelle Eller, said that “A recent market analysis completed for Iowa Finance Authority says the affordable rental apartment market in Des Moines’ downtown area soon will be saturated and the state agency should halt issuing tax credits for created low-income housing.”

There was a bright spot for Des Moines homes for sale, in the form of sales volume in the metropolitan area. According to an October 12, 2009 article in the Des Moines Register, “In September, 881 homes were sold in the Des Moines metro area, a nearly 18 percent increase over a year earlier, the Des Moines Area Association of Realtors said today. The number of pending sales climbed to 893, a 38 percent spike over September 2008, the group said.”