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What Really Happened in 2022’s Housing Market

A summary of the 2022 market stats and how they affect where we are now.

As we start 2023, we are taking a minute to look back at 2022 and how it has affected our current market. It was certainly an interesting year with some very fast-paced activity at the beginning and then an interest rate shock. Then toward the end of the year, things slowed down a bit, and that’s about where we are now.

According to the Des Moines Area Association of Realtors, there were 15,500 total sales in the MLS in 2022. If we compare that number to 2021, which was a very strong year, the total sales went down 13%. However, total listings in the MLS went up to about 2,700. This number is improving, but still low compared to regular inventory pre-pandemic.

“There was a slight decrease in sales in 2022.”

As far as new-construction listings, there were 1,400, which is up about 35% from 2021. Then resale inventory ended at about 1,275 properties, which is up 84%, so a huge jump. This is partially because of the fast pace of 2021 when inventory didn’t stay around long enough. Then, one last stat that we think is very interesting is there were 19 foreclosures in 2022 and eight in 2021, which are both such small numbers.

Overall, we can see that there was a slight decrease in sales in 2022, but inventory is around 4.5 months, so the market is still stable. If you have any questions about these stats or the market in general, please feel free to reach out. You can call or email us anytime.

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