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Lonnie Hohl

Has the Sioux City real estate market GONE MAD???

As you might guess I am asked all the time - "Whats the real estate market like in Sioux City?"  In todays market (Apr of 2015) the market seems to have gone a little mad   Ok not really, but prices are going up and the number of homes for sale seems to be going down, at least on paper.  So this begs the question -

"What is really going on?".  

1) It seems that many folk that have a home mortgage have refinanced at some point in the past few years, taking advantage of the super low interest rates.  Now most of these home owners are content to stay put.  Many don't see a need to move.

2) The rumors about CF industries and it expansion has gotten folks concerned about the local economy in terms how it will effect the area after all the workers have left.  As most of these workers are renting or bring there own housing with - the biggest impact should be on the rental market and the cost to rent will probable drop slightly.

3) One of the biggest impacts on the housing market is the current job status in the Siouxland area.  Meaning there seem to be plenty of jobs if you don't mind working for $10 - $12 an hour.  If Siouxland could attract more higher paying jobs that would have a real effect.

Conclusion: The number of home for sale is down, but if you need or want to sell now is a great time to sell.  There are Buyers just waiting for your home to come on the market.  So give me a call - Let talk.

Agree or not post you thoughts below  

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