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NORTHWOOD, IA – Home prices have risen significantly from around this time last year. And local real estate agents are seeing quite the housing boom in our area as well.
According to a national survey, U.S. home prices jumped a little over 12% in April compared to a year ago.
Many think this points to a strong broad-based housing recovery brought on by strong demand and limited supply of available homes.
One local real estate agent says his business has been non-stop over the past few weeks.
Worth Realty Owner, Dan Low said, “Last summer out market was really fairly soft all year, but I think our economy has improved a lot and renters that have been renting are finding that interest rates are really attractive and rather than renting, I think they’re looking to buy a house and actually the market this summer is just fantastic I think.”
Dan also says homes are selling very quickly, so it’s best to make sure to pre-qualify for a loan so you know exactly what you have to borrow.