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Quad Cities Housing Boom Creates Unusual Problem for Buyers

By The Bassford Team on October 3, 2020

Beginning the process of purchasing and moving to a new home presents its own set hurdles to overcome, including everything from the small, yet tedious task of packing, to the larger scale issues such as getting your family settled in and comfortable with their new neighborhood. Many of the issues that arise are common, however, prospective Quad City homebuyers have recently encountered an unexpected challenge over the summer as the real estate market in the QC area continues to blossom: homes are selling too quickly.

According to a report from the National Association of Realtors, the Quad City housing market has been experiencing a big boost in the recent summer months. During June and July, local properties saw a 24.7% increase in sales – the largest jump since the creation of the association over fifty years ago. Unfortunately, this is a subject that is far too familiar for Iowa City residents Ryan and Tanya Skriver, who had been struggling for weeks to purchase a home in Bettendorf before finally succeeding. “At least twice, we wanted to look at a house the same day they went on the market. The house went on the market at noon-ish. We had a chance to see the house at 5:30 p.m. We ate dinner and texted the realtor at 8 p.m. that we were interested in putting an offer in. And in that time they had already accepted a different offer,” Mrs. Skriver said in an interview with the Quad City Times newspaper.

With the supply low and the demand at an all-time high, prospective purchasers are finding that its a buyers market in Bettendorf, Iowa. And as the ongoing coronavirus pandemic continues to ravage our communities, it is more important than ever to hire a reputable real estate agent to help you maneuver the ever-changing landscape of real estate. With The Bassford Team, we are in complete compliance with the COVID-19 guidelines and recommendations set forth by The Centers for Disease Control and Prevention, so our group of qualified professionals can help you safely find the home of your dreams within one of hottest housing markets in the greater QC area. For additional information, please submit a contact form or call our office at 309-797-5800 to speak with an associate.

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