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2013 Update on the Quad City Real Estate Market

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In the brief 8 weeks we have had in 2013, the housing market in doing what most predicted, better than previous years. This graphic provided by the Iowa Associaton of Realtors is evidence. The market is slowly beginning to sway from a buyer's market to a seller’s market. This will not come into full fruition for several more years, but it does speak towards real estate rebounding and our economy growing.

The number of sold houses has a correlation with the workforce slowly growing, as well. According to the Iowa Work Force Development, employment rates have slightly increased by nearly 1% over the last year. More people working is more homeowners. In the Quad Cities alone, houses under $100,000 have been selling like hot cakes. With a steady job, lenders are more likely to approve loans in this price range. I have even heard from some Ruhl & Ruhl realtors that houses under $150,000 are selling really well.

The Quad Cities housing market has always been in its unique little bubble. We have several large employers in the area including John Deere, Rock Island Arsenal, and Genesis, just to name a few. With these stable employers, and we hope the Arsenal will remain strong over the year, more employed young people are looking to become homeowners for the first time. If you are looking to sell your home to a first time home buyer don’t be afraid to make some upgrades to target the ages of 25-34 years old. A neutral colored wall is no longer white, soft colors such as “Mantis Green” are considered neutral. Your buying audience is something to keep in mind when preparing to sell your Quad City home this year.

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