Where is the Des Moines Real Estate Market headed in 2011?

Forecast for the 2011 Des Moines Real Estate MarketThere has been quite a bit of positive buzz about the market heading into next year. As Steve Harney writes in the KCM Blog, both Fannie Mae and Freddie Mac are predicting increases in sales for 2011:

KCM Blog – Demand for Housing Will Increase in 2011

I expect the Q4 sales numbers to be lower as we have already seen in the October and November sales stats. I think this is mostly due to the fact that most buyers purchased earlier in the yeat to take advantage of the tax credit. As we return to a more normalized “post tax-credit” market for 2011, I believe the Q1 2011 will be stronger.

As Steve mentioned in his post, the overall sales numbers will be higher but home prices are not expected to increase significantly. This means that it will continue to be an excellent time to buy given the fact that prices remain at the bottom along with extremely low interest rates.

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