home building market
Featured Stories
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Unprecedented Times (January 2021)
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2021 Houzz Home Design Predictions (January 2021)
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Moving Forward (December 2020)
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Cautious Optimism Continues (November 2020)
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Conventions Amid a Pandemic (November 2020)
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Designed to Grow (October 2020)
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A Worthy Milestone (October 2020)
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The Hometown of the Future (September 2020)
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Rhythm of Color (September 2020)
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Strength in Numbers (August 2020)
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From 0 to 60 in No Time (July 2020)
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Baby Boomers Drive Home Renovations (July 2020)
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Learning to Dance in the Rain (June 2020)
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2020 Vision (June 2020)
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Weathering the Crisis (May 2020)
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A Legacy of Leadership (April 2020)
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COVID-19 and the Economy (April 2020)
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Writing A New Story (March 2020)
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Top Five Landscape Trends of 2020 (March 2020)
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DMAAR Gala (February 2020)
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The Hardest Contractor Jobs In America (February 2020)
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Predictions for 2020 (January 2020)
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8 Home Design Trends (January 2020)
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Leading the Way (December 2019)
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Showers Reign in Master Bathroom Remodels (December 2019)
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A Growing Family (November 2019)
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Giving Back (November 2019)
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Meet Your Winners (October 2019)
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The Top 4 Landscape Design Trends of Fall 2019 (October 2019)
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A Decent Place to Live (September 2019)
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It’s A Lovely Day in the Neighborhood (September 2019)
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Meet Your HomeShowExpo 2019 Winners (August 2019)
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Making Housing Unaffordable (August 2019)
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A Reputation for Good Work (July 2019)
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Aventura—Living An Active Lifestyle (July 2019)
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Finding A New Home (June 2019)
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Building A Bridge (May 2019)
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It’s What’s on the Outside That Matters (May 2019)
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Reimagining an Ancient Concept (April 2019)
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Taking an Active Role (March 2019)
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The Top Landscape Trends of 2019 (March 2019)
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Advocacy in Action (February 2019)
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Red-Carpet Celebration (February 2019)
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Looking Back, Looking Ahead (January 2019)
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Single Females Remain a Force in the Market (December 2018)
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Innovating a Solution (December 2018)
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A Talented Team (November 2018)
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A Family Kind of Business (November 2018)
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Color Trends Reflect Human Touch (October 2018)
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Hammers & Heels (October 2018)
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Honoring the Past, Building Toward the Future (September 2018)
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Houzz Survey Finds Home Renovation Boom Continues (September 2018)
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Meet Your HomeShowExpo 2018 Winners (August 2018)
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Giving Back (August 2018)
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Creating a Legacy (July 2018)
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Time Well Spent (July 2018)
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A Little Bit of Everything (June 2018)
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Cooking Habits Impact Kitchen Design (June 2018)
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All They Could Wish For (May 2018)
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2018 Landscape Trends From the ASLA (May 2018)
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A Seamless Transition (April 2018)
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11th Annual Builder & Developer Luncheon (April 2018)
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The Future of the Industry (March 2018)
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Spotlight on the Top Design Trends (March 2018)
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Top 2018 Kitchen Trends from Houzz (February 2018)
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DMAAR Sells Out “Late Night” (February 2018)
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Predictions for 2018 (January 2018)
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Giving Back (January 2018)
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In The Spotlight (December 2017)
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The Inventory Crisis Will Drive the Market (December 2017)
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Surpassing Expectations (November 2017)
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Master Bathroom 2017 Trends (November 2017)
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K&V Homes Celebrates 20 Years (October 2017)
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The Top 5 Landscape Design Trends of Fall 2017 (October 2017)
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Spreading the Message (September 2017)
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Pantone’s Hottest Home Trends (September 2017)
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11 Apps Every Building Professional Should Have (September 2017)
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Meet Your HomeShowExpo 2017 Winners! (August 2017)
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A Tiny Home Solution (August 2017)
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Livin’ the Dream (July 2017)
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There’s No Place Like Home (July 2017)
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Meet the New Owners of Kline Electric (June 2017)
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A Deeper Connection (May 2017)
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Archadeck of Central Iowa Wins Grand Prize Award (April 2017)
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Smart, Stylish & Sustainable (April 2017)
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10th Annual Builder & Developer Luncheon (March 2017)
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The Pro’s Picks for 2017 IBS New Products (March 2017)
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Late Night with DMAAR (February 2017)
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Real Estate Outlook for 2017 (January 2017)
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Zillow’s Top Design Trend Predictions for 2017 (January 2017)
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A Beautiful Combination (December 2016)
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Renovating Homeowners Are Split on Smart Tech (December 2016)
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Growing a Business (November 2016)
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Making Today’s Homes More Owner-Friendly (November 2016)
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The Right Tool for the Job (October 2016)
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Master Bathrooms Going High Tech (October 2016)
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Happy 40th Anniversary Shirley Bolton (September 2016)
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Gray Tones in Your Homes (September 2016)
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Meet Your HomeShowExpo 2016 Winners (August 2016)
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Red House Remodeling Named To Big50 (July 2016)
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Land for Sale? (July 2016)
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The Best Kind of Recognition (June 2016)
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Second Habitat ReStore Opens (June 2016)
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Building the Next Generation (May 2016)
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A Home of Its Own (May 2016)
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Taking It To The Hill (April 2016)
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Expert Perspective (March 2016)
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Forward Thinking Design (March 2016)
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Late Night With DMAAR® (February 2016)
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Super Kitchen (February 2016)
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It’s all in the Cards for 2016 (January 2016)
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Most Home Builders are Small Businesses (January 2016)
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Mind Your Manners (December 2015)
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Doing Good (December 2015)
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Plot Twist (December 2015)
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Des Moines: Top of The List (November 2015)
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Inspire Consumers (November 2015)
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Building the Future (November 2015)
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AIM Kitchen & Bath Named to Remodeling’s Big 550 (October 2015)
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Sharing the Vision (October 2015)
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An Opportunity for Growth (October 2015)
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Bridging the Communication Gap (September 2015)
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Americans Are Ready for the Smart Home (September 2015)
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Who’s in Control? (September 2015)
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Here Are Your Winners (August 2015)
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Unified Codes a Distinct Possibility (August 2015)
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DMAAR Rolls Out Safety Initiative (August 2015)
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Leading the Old Fashioned Way (July 2015)
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Built for Speed & Accuracy (July 2015)
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Classic Builders Named to Builder Next 100 (June 2015)
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Latest Residential Landscape Design Trends (June 2015)
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Nicole McGlothlin LLS Woman of the Year (June 2015)
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Mom’s the Boss (May 2015)
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Contemporary Kitchens Surge in Popularity (May 2015)
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Contemporary Spa Bath Leads Preferences (April 2015)
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Seeing Green (April 2015)
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Thriving in Wartime Conditions (March 2015)
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Seeing the Silver Lining (February 2015)
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Houzz Survey Finds Kitchens Outlast Most Marriages (February 2015)
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15 Predictions for ’15 (January 2015)
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How Healthy is your Home? (January 2015)
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Where the Action Is (December 2014)
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Move Over Millennials (December 2014)
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Building a Future (November 2014)
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Homeowners Looking to Add More Features (November 2014)
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October Is National Kitchen & Bath Month (October 2014)
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Sherwin-Williams Predicts Optimistic 2015 (October 2014)
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Lotsa Lots? (September 2014)
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Booming Ideas (September 2014)
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HomeShowExpo Winners (August 2014)
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Looking Ahead (July 2014)
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Home Trends in the Metro (July 2014)
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Builder Design Centers (June 2014)
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Millennials are Changing the Marketplace (June 2014)
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The Big Picture (May 2014)
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The Value of Remodeling (May 2014)
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Hot Trends: Kitchens & Baths (April 2014)
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Big is Back (April 2014)
Do You Know
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Do You Know: Tim Hicklin (September 2014)
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Do You Know: Korey Beemer (July 2014)
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Do You Know: Brenden Hannah (June 2014)
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Do You Know: Jed Finley (May 2014)
A Conversation With
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A Conversation With Cindy Pelz (August 2017)
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Jennifer Schumann (June 2017)
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A Conversation With Matt Ostanik (May 2017)
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A Conversation With Linda Westergaard (March 2017)
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A Conversation with Tawnya Neighbour (February 2017)
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A Conversation with Victoria Veiock (January 2017)
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A Conversation with Mark Reetz (December 2016)
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A Conversation with Darius Jackson (November 2016)
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A Conversation With Bob Burns (October 2016)
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A Conversation With Marsha Bannister (September 2016)
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A Conversation With Gavin Blair (August 2016)
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A Conversation With Jay Iverson (July 2016)
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A Conversation With Amy Spike (June 2016)
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A Conversation with John Dunn (May 2016)
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A Conversation with Sarah Kavalier (April 2016)
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A Conversation With Kelly Gibson (March 2016)
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A Conversation With Shannon Nathe (February 2016)
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A Conversation with Vicki Davis (January 2016)
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A Conversation With Jessica Terrill (December 2015)
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A Conversation With: Ken Clark (November 2015)
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A Conversation With Lindsay Black (October 2015)
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A Conversation with John Peterson (September 2015)
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A Conversation With Marshal Tolly (August 2015)
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A Conversation With Tina Mowry Hadden (July 2015)
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A Conversation With: Rick Parrino (June 2015)
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A Conversation With Jenna Ekstrom (May 2015)
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A Conversation With: Bill Blue (April 2015)
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A Conversation With Rachel Delzell (February 2015)
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A Conversation With Robin Polder (January 2015)
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A Conversation With Reo Menning (December 2014)
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A Conversation With: Jessica Reinert (November 2014)
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A Conversation with: Dan Knoup (October 2014)
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A Conversation with: Don Beal (September 2014)
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Zak Fleming (August 2014)
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A Conversation With: Brian Buresh (July 2014)
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A Conversation with: Brennan Buckley (May 2014)
In-Depth
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Building a Dream (January 2021)
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The Joy of Reaching Out and Giving Back (December 2020)
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Employee or Independent Contractor? (November 2020)
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Contract Protections for Contractors (October 2020)
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Seller’s Market (September 2020)
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More Than a Shelter (August 2020)
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Being the Change (July 2020)
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All the Right Pieces (June 2020)
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Contracts & COVID-19 (May 2020)
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Impact on Unemployment Benefits (April 2020)
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A Positive Outlook (March 2020)
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Planning for Future Growth (February 2020)
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2020 Color Trends (January 2020)
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Worth Celebrating (December 2019)
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Signs of Change (November 2019)
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Sellers Beware (October 2019)
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Three Steps Forward, Two Steps Back (September 2019)
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It’s A Win/Win (August 2019)
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Starting From Scratch (July 2019)
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Everybody Wins (May 2019)
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Informed Decisions Begin Here (April 2019)
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ISU to Offer Grad Degree in Real Estate Development (March 2019)
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Tough Housing Market Ahead (January 2019)
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Ring Day (December 2018)
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Giving Back (November 2018)
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Not Just Talk (October 2018)
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Checks & Balances (September 2018)
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550 Remodeling List Announced (July 2018)
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Reaching Their Stride (June 2018)
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The Slow Pace of Change (May 2018)
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In Heels & Hardhats (April 2018)
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Home Ownership Gets One Step Closer (February 2018)
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New Year, New Merger (December 2017)
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Cyber Liability Risks (November 2017)
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The Significance of the Skilled Trades (October 2017)
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Digital Design (September 2017)
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Code Consortium Aims High (July 2017)
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Builder Magazine’s Top 100 and Next 100 Named (June 2017)
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Real Advice, Virtual Source (May 2017)
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Authentic 3-D Printed Landscapes (April 2017)
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A Win-Win for First-Time Home Buyers (March 2017)
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Developers’ Dream: Free Land & Incentives in Osceola (February 2017)
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Visions of Home (January 2017)
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A Flicker of Hope (December 2016)
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A Successful Group Effort (November 2016)
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Finding A Solution (October 2016)
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Emotional Factors Drive Purchase Decisions (September 2016)
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Leaving the Paper Trail (August 2016)
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For New Homes, Women a Tougher Sell (July 2016)
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A Last Gift (June 2016)
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Updates in the Affordable Care Act (April 2016)
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Dreaming Big (February 2016)
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New Study Suggests Strong Outlook for Green Homes (January 2016)
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Majoring in Real Estate (May 2015)
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Safety by the Numbers (April 2015)
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Late Night with DMAAR® (March 2015)
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Getting the Most from Your Exhibiting Experience (January 2015)
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MJ Properties Is True to Ankeny’s Schools (December 2014)
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A Deadly Threat in Iowa’s Homes (November 2014)
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Copyright Infringement and the Internet (September 2014)
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A Lasting Tribute (August 2014)
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A Code is Born (July 2014)
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Environmental Impact Awards (June 2014)
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When a House Becomes a Home (June 2014)
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Panelization: Advancing to Meet the Market (May 2014)
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Leading the Field (April 2014)
Giving Back
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A Lesson in Giving (January 2016)
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Greenland Homes Pays it Forward to Children’s Cancer Connection (February 2015)
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Habitat for Humanity Key Awards (October 2014)
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A Long Road Home (August 2014)
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Businesses Pay It Forward for Special Cause (July 2014)
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A Decent Place to Live (April 2014)
In Remembrance
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Terry Doling ()
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Pat Mashek (August 2014)
Observations
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The DOL Revisits Compensable Travel Time (January 2021)
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Des Moines 2021 Housing Forecast (January 2021)
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Investment Lessons from 2020 (January 2021)
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You Had Me At Hello (January 2021)
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To Post or Not to Post Progress Photos (December 2020)
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Time for Some New Year’s Financial Resolutions (December 2020)
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Where Are Des Moines Record Home Sales Coming From? (December 2020)
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Fire Up the Crystal Ball (November 2020)
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What Can Investors Learn from Veterans? (November 2020)
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How to Keep Your Clients Long Term (November 2020)
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What Will Real Estate Look Like After COVID-19? (October 2020)
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Sustainable Investing Can Pay Off—in Several Ways (October 2020)
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Eliminate the Tire Kickers (October 2020)
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The Place Is Here, The Time is Now (September 2020)
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Opportunities When Preparing for College Costs (September 2020)
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How to Get Your Point Across Today (September 2020)
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First Half of 2020 Unlike Any Other Year for Real Estate (August 2020)
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Are Women Better Investors Than Men? (August 2020)
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Form Follows Function (August 2020)
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What the Titanic Can Teach You About Business (July 2020)
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Year of the Relationship (June 2020)
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2020 Iowa Legislative Session Recap (May 2020)
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Unprecedented Times For Des Moines Real Estate (April 2020)
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Use This Time to Build Better Systems (April 2020)
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Don’t Let Fears Drive Your Investment Choices (April 2020)
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Off To A Strong Start! (March 2020)
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Time for Some Financial Spring Cleaning (March 2020)
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How to Write Blog Content (March 2020)
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What Can Investors Learn From “Big Game” Teams? (February 2020)
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Build a Low Maintenance WordPress Website (February 2020)
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Des Moines Real Estate—2019 Market Review (February 2020)
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2019 New Construction Market Rallied Its Way Back (January 2020)
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Change By Stopping the “Stupid Stuff” (January 2020)
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Financial Tips for Snowbirds… Present and Future (January 2020)
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Things Are Better Off Now Than This Time A Year Ago (December 2019)
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Stay On Top Of Your Marketing Plan (December 2019)
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Three Factors to Consider When Making Charitable Gifts (December 2019)
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Compete All Four Quarters If You Want To Win (November 2019)
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Know Your Numbers (November 2019)
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Fed Lowers Target Rate for Third Time in 2019 (November 2019)
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Share Your Financial Abundance with Your Family (November 2019)
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Comparing to Your Neighbors’ Can Lead to Dissatisfaction (October 2019)
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Make a Good First Impression With Your Website (October 2019)
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Residential Real Estate: 3 Quarters Down, 1 To Go (October 2019)
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Not Too Soon for End-of-Year Financial Moves (October 2019)
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Will Market Outperform to Overcome the Slow Start? (September 2019)
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Take a Break (You Deserve It) (September 2019)
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You Can Work to Become a Better Investor (September 2019)
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Home Sale Strategy—Proper Pricing is Crucial This Summer (August 2019)
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Find New Business in What is Trending (August 2019)
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Women: Don’t Forget About Your Retirement Plan (August 2019)
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New Construction Year-Over-Year Numbers (July 2019)
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Something Terrible This Way Comes (July 2019)
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Work Toward Your Own Financial Independence Day (July 2019)
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Another Way to Get Referrals (June 2019)
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Don’t Let Your Investments Go on “Vacation” (June 2019)
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New Construction Market Data (May 2019)
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Contractors Must Proceed Cautiously (May 2019)
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First Quarter Real Estate Sales Off To A Slow Start (April 2019)
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Responding to Negative Social Media Comments (April 2019)
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Are You One of These Bosses? (April 2019)
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New Construction Market Data (March 2019)
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4 Types of Facebook Ads that Will Help You (March 2019)
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Hiring Checklist (March 2019)
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How to Handle Employee Complaints (February 2019)
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Today I’m Going to Talk About Doing it All (February 2019)
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One Year Ends, Another One Begins in Real Estate (February 2019)
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Let’s Talk Websites (January 2019)
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End of the Year Projections (January 2019)
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Transition from Employee to Effective Owner-Leader (January 2019)
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2018 Des Moines Real Estate Year End Predictions (December 2018)
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Your Business End of the Year Legal Checklist (December 2018)
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Boundaries and Defined Responsibilities (December 2018)
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Why People Don’t Always Buy the Lowest Price (November 2018)
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Fall Brings Market Slowdown (November 2018)
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Why Your Business Needs Proper Succession Planning (November 2018)
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September Sneak Peek at Des Moines Home Sales (October 2018)
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Former Employees And Your Right To Disclose (October 2018)
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5 Steps to Achieve This Year’s Goals…This Year! (October 2018)
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Closing Out the Summer New Construction Market (September 2018)
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BYOD: Should Your Business Adopt This Policy? (September 2018)
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Tips For Building a Great Website That Works (September 2018)
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July 2018 Des Moines Real Estate Market Update (August 2018)
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Your Best Advice Might Come from a Marriage Counselor (August 2018)
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Five Website Mistakes to Fix This Summer (August 2018)
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Non-Compete Agreements in Iowa (July 2018)
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Summary Iowa Construction Industry Legislation (July 2018)
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New Construction Market Segmentations (July 2018)
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First Five Months is in the Books (June 2018)
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Take it Down a Notch, Will Ya? (June 2018)
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Spring Selling Season Picks Up (May 2018)
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Misclassification Of Iowa Workers (May 2018)
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A Snowy Start To 2018 Kept Des Moines Buyers Inside (April 2018)
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How Long Should You Keep Business Records? (April 2018)
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It’s Time to Grow (April 2018)
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Construction Inventory on Track for 2018 (March 2018)
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Staying on Track in the New Year (March 2018)
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Iowa Drug and Alcohol Testing in the Workplace (March 2018)
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The 2017 Year in Review for Residential Real Estate (February 2018)
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Common Pitfalls When Running a Family Business (February 2018)
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Free Marketing Tips You Can Use Now (February 2018)
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New Construction Market Remains Strong as the Year Ends (January 2018)
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Pay Attention to These Things to Make it To Next Year! (January 2018)
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Discrimination In The Hiring Process (January 2018)
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Should An Unpaid Subcontractor Ever Walk Off The Job? (December 2017)
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Why You Should Consider Facebook Advertisements (December 2017)
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Des Moines 2017 Real Estate Sales Coming To A Close (December 2017)
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Third Quarter Results Are Now In (November 2017)
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Do I Need an Employee Handbook? (November 2017)
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Des Moines Real Estate Home Inventory On The Rebound (October 2017)
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Trademarks and Business Protection (October 2017)
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Unstuck Your Website (October 2017)
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Rights Amongst Shareholders on Sale of Corporations (September 2017)
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What is an Individual 401(k) Plan? (September 2017)
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Does Your Website Pass the Smell Test? (September 2017)
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Third Quarter Draws to an End (September 2017)
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Are Home Values Rising in the Des Moines Market? (August 2017)
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Obtaining and Conducting Business Using A DBA (August 2017)
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The Underdog vs. The Big Fish (August 2017)
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Considering an Employment Contract? (July 2017)
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Old-School Context for a 21st-Century World (July 2017)
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What are SEP IRAs? (July 2017)
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Construction Branding (June 2017)
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HBA of Iowa Legislative Recap 2017 (May 2017)
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To Sign or Not to Sign (May 2017)
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What is a SIMPLE? (May 2017)
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Des Moines Real Estate Market Softens a Bit (April 2017)
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We Need to Talk (April 2017)
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Barriers Holding Back Prospective Homebuyers (April 2017)
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New Construction Market Starts Out Strong in 2017 (March 2017)
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Radon—An Invisible Issue (March 2017)
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Nine Great Ways To Turn Coffee Into A Job Interview (March 2017)
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SEO Is Dead, Stop Chasing! (March 2017)
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Boomerangs: Should You Rehire A Former Employee? (March 2017)
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2016—The Residential Real Estate Year of Records (February 2017)
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Important Terms in Construction Agreements (February 2017)
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Five Social Media Tips For A Focused Marketing Strategy (February 2017)
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Want More From Workers? Tell ’em to Take a Break (February 2017)
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New Year, New Threats—Cyberattack Concerns (January 2017)
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New Construction Market Remains Strong (January 2017)
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Business Leaders Need to Watch Out for Woodpeckers (January 2017)
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What’s Your Data Backup Plan? (January 2017)
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Des Moines Real Estate Market Enters “The Zen Zone” (December 2016)
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Should Employers Postpone Overtime Overhaul? (December 2016)
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Are You Still Asking Those Weird Interview Questions? (December 2016)
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Is Your Password One Of These Phrases? Change It Now (December 2016)
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Fourth Quarter Market Progresses Nicely (November 2016)
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Non-Compete Agreements: Enforceable if Reasonable (November 2016)
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How to Handle Angry Clients or Customers (November 2016)
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Lazy Employees? 6 Workplace Issues to Blame (November 2016)
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Why Your Marketing Isn’t Working (November 2016)
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Milestones in Des Moines Residential Real Estate (October 2016)
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Legal Essentials for Starting a New Business (October 2016)
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Maintaining Commitment to Your Business (October 2016)
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How To Build and Better Client Relationships (October 2016)
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This Year’s Four Hottest Kitchen Trends (October 2016)
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New Construction Market Still Strong in 3rd Quarter! (September 2016)
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Drug Testing in the Workplace (September 2016)
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The One Trait Truly Exceptional Salespeople Possess (September 2016)
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Video Quality Matters: 5 Tips for Better Web Video (September 2016)
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Is Your Board Exercising Its Fiduciary Duty? (August 2016)
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Des Moines Home Sales—2016 Past, Present & Future (August 2016)
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Start Being a Leader at Work (August 2016)
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Social Media Cheat Sheet (August 2016)
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When LLC Owners Are Personally Liable (July 2016)
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Market Progresses Nicely in the Second Quarter (July 2016)
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What Does Your Online Profile Say About You? (July 2016)
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Regulation: 24.3% of the Average New Home Price (June 2016)
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Managing Personal Use of Company Vehicles (June 2016)
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9 Ways to Have Better Vacations (June 2016)
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What’s Your Website Say About You? (June 2016)
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Lawsuits in Iowa (May 2016)
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3 Differences Between an Iowa LLC and a Corporation (April 2016)
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A Gentleman’s Agreement (April 2016)
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15 Home Builder Marketing Tips You Should Be Using! (April 2016)
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How to Avoid Paying 4 Huge Taxes (April 2016)
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How to Recruit a Great Salesperson (March 2016)
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The New Construction Market Sees Robust Gains! (March 2016)
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Tips to Getting Paid As a Subcontractor (February 2016)
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Morning Habits to Recharge You And Your Business (February 2016)
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On August 1, OSHA Penalties Are Going Up, Up, Up (February 2016)
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The 7 Ways Most People Ruin Their Own Success (February 2016)
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How to Measure Business Maturity (January 2016)
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More Gains in Commercial Sector Next Year (January 2016)
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It Will Cost You $5 to Fly Your Drone (January 2016)
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Real Estate Des Moines Style—A Year To Remember (January 2016)
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2015 New Construction Market To Finish Strong (January 2016)
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Contractor Marketing in 2016? Instagram FTW! (December 2015)
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Don’t Forget About Year-End Investment Planning (December 2015)
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You’re a Better Boss When You’re a Better Teacher (December 2015)
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Face-to-Face Selling Is Still Effective (December 2015)
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Legal and Ethical Duties on a Construction Project (November 2015)
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Making Team Meetings More Productive for the Workplace (November 2015)
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10 Traits of Successful Salespeople (November 2015)
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New Construction Market Still Remains Strong (November 2015)
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5 Hidden Costs of Running a Business (October 2015)
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10 Signs of a Really Scary Boss (October 2015)
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The Big Picture of Des Moines Real Estate (October 2015)
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7 Bad Habits That Stand in the Way of Your Success (October 2015)
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Leaders Vs. Managers: What’s the Difference? (September 2015)
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New Construction Market Remains Strong (September 2015)
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Dealing with Client Conflict (September 2015)
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Marketing a Construction Business—The Ante (September 2015)
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Money & Happiness: It’s Complicated (August 2015)
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Is Criticism More Effective Than Praise? (August 2014)
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Construction Marketing is About Know, Like, & Trust (August 2015)
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New Construction Market Remains Strong (July 2015)
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I’m Here To Save Your Company Money (July 2015)
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Des Moines Real Estate Second Quarter 2015 Recap (July 2015)
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Non-Competes in the Construction Industry (June 2015)
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Why Being a Workaholic is Actually a Bad Thing (June 2015)
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10 Reasons to Update Your Website (June 2015)
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7 Baby Boomer Housing Trends to Watch (June 2015)
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Attract Buyers With Social Media (May 2015)
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Des Moines Real Estate First Quarter 2015 Recap (April 2015)
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Marketing Your Blog (April 2015)
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Dos and Don’ts to Keep You Out of Court (April 2015)
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It Pays to Own a Home (March 2015)
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What Do Today’s Homebuyers Really Want? (March 2015)
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2014 New Home Market Recap and Start of 2015 Numbers (March 2015)
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Central Iowa’s economy has been robust, with several major economic development projects landing in the region, along with numerous headlines about national rankings.
Iowa’s diversified economy combined with the strong agricultural economy has helped boost the recovery of home building and development activity locally. The fiscal policies introduced to help the national economy have been a boon for Central Iowa, where the economy rebounded quickly following the 2008 recession.
With a growing population and low unemployment rate, developers and builders have started to come back to the market. In many cases, we are approaching the peak numbers of the 2005 building boom.
Since 2008, Peoples Company has been following building permit activity, final plats and sales of new-construction homes in the 18 communities that make up the Des Moines metro area. In 2013, development activity shifted back into high gear: 93 new plats were developed throughout the area, resulting in 2,301 new lots, compared with 1,283 lots the year before. Building permits jumped from 1,837 to 2,187 in 2013.
While this all sounds bullish, perhaps more interesting is the fact that sales of new-construction homes increased just slightly to 1,253 in 2013, compared with 1,192 the year before. That resulted in 61 additional new home sales, compared with the 2,187 lots that were developed. If this same level of development activity continues along with the same level of new construction activity, it could result in an overbuilt market.
There were 1,693 new-construction homes sold in 2005. In 2013, there were 1,284, or 76 percent of the peak number in 2005, demonstrating that this level of development activity will be difficult to maintain over a sustained period.
Dig deeper into the numbers and you find some interesting statistics. There are five new-construction communities in Greater Des Moines (Ankeny, Clive, Urbandale, West Des Moines and Waukee) representing 66 percent of the new-construction market. In these markets, there are only 16 new homes for sale under $225,000. Another notable stat is that the average price of a newly constructed home in 2010 was $229,000. In 2013, the average price of new-construction houses sold throughout the Des Moines area was $294,000. That’s an increase of $65,000 over the past four years.
Most of this price increase comes from increased lot prices, labor and material costs. Although this is a positive for the townhome and condo market, as well as the rental market, we are concerned that the entry-level price point for new construction is going to become too high and new construction could price itself out of business. If entry-level homes become too expensive, it will ultimately affect people’s ability to move up, further slowing construction activity.
The positive news is that the total number of homes for sale is well below its peak level. A total of 7,706 single-family homes were sold in Greater Des Moines in 2013. There are currently only 2,459 single-family homes on the market, equating to a 3.9-month supply. Again, for comparison sake, there were 7,935 single-family house sales in 2005, compared with 7,706 in 2013, signaling that the market has bottomed out and we are now in a seller’s market.
Time will tell how this will all play out in Greater Des Moines. We are certainly enjoying some significant economic growth, and there certainly isn’t an oversupply of single-family homes. If low interest rates remain the norm, economic development activity continues, and banks and builders refrain from overdoing it, we should enjoy a robust market for several years.
Builders and developers will need to pay attention to the entry-level price point to keep the momentum going as the development and banking community collectively monitors inventory levels, so we don’t overbuild or over develop.
As the old saying goes, the best cure for high prices is high prices.