CEDAR RAPIDS, Iowa (KCRG) – Housing prices nationwide hit an all-time high this week, as Iowa continues to rank among the states with the highest foreclosure rates in the country. KCRG says according to real estate data firm ATTOM, Iowa ranks among the top 13 states with the highest foreclosure rates. Data shows 478 filings in the month of May — a 15 percent increase since February. Rural parts of the state are seeing the biggest increases, with May filings including Washington, Pocahontas, Taylor, and Cass Counties.
Banker John Huiskamp said the foreclosure trend is a factor when approving loans, though he does not view it as a major concern at this time. Huiskamp said homeowners who find themselves unable to make a payment — due to job loss, illness, or other circumstances — should contact their lender as early as possible.
According to Realtor.com, the median price for an existing home has fallen in the South and the West since a peak in 2022, but is up 10 percent in the Midwest. Fewer existing homes were sold nationwide last month compared to the month before.
Mortgage rates have climbed since the War in Iran began but remain lower than a year ago.
