Why Home Prices Are On The Rise In The QCA

Sep 7, 2017

The average price of a home in the Iowa Quad Cities is $199,500.
Credit Mariah Woelfel/WVIK

It's getting increasingly expensive to buy a home in the Quad Cities area, according to a report by the Federal Finance Housing Agency. 

Home prices in the QC metropolitan area rose 3.64 percent in the past year, while home price rose 6.6 percent nationally. 

Caroline Ruhl, president of Ruhl & Ruhl Realtors, says a lack of inventory has led to a greater demand, and higher prices. 

"The problem is there aren't enough lots that would be in an affordable price range. So you can build wonderful homes -- and we're seeing a lot of homes built in the 300, 400, and 500 [thousand dollar] price range -- but where we really need homes are in the 100 and 200 thousand dollar price range."

The average home price in the Illinois Quad Cities is $118,000, and nearly $200,000 in the Iowa Quad Cities. 

Ruhl says she doesn't see an end to the upward trend in home appreciation, as long as interest rates continue to increase steadily, and not drastically.