How the housing market in your state determines who will win the mid-term elections

by Rachel.Norvell17 Oct 2014

Iowa housing market a toss-up

With Democrat Senator Tom Harkin retiring, the race between state Democratic Rep. Bruce Braley and GOP state Sen. Joni Ernst is considered one of the most competitive in the country – and RealtyTrac said it’s a toss-up. Of the seven counties in Iowa scored, one was categorized as better off, while four were categorized as toss-ups and two were categorized as worse off.

In Iowa’s three largest county real estate markets — Polk County, Linn County and Scott County — the housing outlook is mixed. Unemployment rates are down less than one percentage point in all three counties, but underwater rates are below the national average.

Median home sales prices are up compared with two years ago in Polk and Scott counties, but down slightly in Linn County. Meanwhile, the slower home price appreciation does help out the affordability situation in Iowa, where the percentage of median income needed to buy a median-priced home is up less than 2 percentage points in both Polk and Linn counties.

Click here to view RealtyTrac’s Housing Scorecard.

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