Skip to main content

November 2014 Des Moines Market Snapshot

Why Are There So Few Homes For Sale?

It’s a question that homebuyers and Realtors alike have been asking for the past couple of years. After all, home mortgage rates have remained ridiculously (also referred to as historically) low. In 2014 a homebuyer could expect to get a 30 year fixed rate mortgage at 4% or less.

For the majority of 2014, the Des Moines real estate market saw between a 4 and 6 months supply of homes for sale. That is considered a balanced market where there is an adequate supply of homes for sale and pricing tends to remain favorable to both buyers and sellers.


The lack of listings isn’t limited to just our market. Nationally, the number of homes for sale has been down 27% compared to 2011. Des Moines experienced the exact same percentage as well. All the while, we will end up closing in excess of 10,000 sales with a quarter less inventory.

According to statistics from the National Association of REALTORS, consumer confidence is on the rise, monthly pending sales are making an upturn and the number of total home sales are increasing.

So why haven’t sellers figured out that this is the best time for them to have their homes on the market?

I believe that many homeowners over the last couple of years have taken the stance of wait and see. We are almost back to normal levels when it comes to short sale and foreclosure inventory (currently under 5% in Des Moines). New construction listings and sales are on the increase this past year showing a confidence by developers and builders of an improving economy.

It is my belief that many homeowners have in a sense taken the last couple of years to improve and update their homes. As a result, I predict that 2015 will be the year that we see a rise in listing inventory as well as home values due to these improvements. As is common in Iowa, don’t expect dramatic swings in any direction.

Click The Graphic Images Below To Download Full PDF

November 2014 Balance of the Market Report

November 2014 Inventory Breakdown By Type

November 2014 Homes For Sale

November 2014 Pending Transaction Count

November 2014 Home Sales YTD

November 2014 New Construction Inventory

November 2014 Active, Pending, Sale Price Average

November 2014 Active Listings Vs Previous 5 Years

November 2014 YTD Price Point Avg Pricing

 November AVM Comparison Chart is your local resource for real estate market conditions and statistics in the Des Moines and central Iowa area.
Les Sulgrove is a licensed REALTOR® with Keller Williams Greater Des Moines and has been licensed to sell real estate in Iowa since 1990. If you are looking to buy or sell your home, contact Les today!


Leave a Reply

Your email address will not be published.