For the first time ever, Ruhl&Ruhl REALTORS, the residential company, outsold Mel Foster Company in sales volume for the year of 2009.

According to the Real Trends 500 Report, Ruhl&Ruhl was ranked 174^th nationally based on sales volume. There are over 8,000 real estate companies in the country. Mel Foster Co. was ranked 178^th.

Ruhl&Ruhl’s residential sales volume in 2009 was $547,890,896 and the company had 3,770 transactions, at an average sales price of $145,329. On average, Ruhl&Ruhl sales associates sold 16.1 properties per agent in 2009, as either the listing agent or selling agent.

Mel Foster reported their residential sales volume in 2009 was $532,828,648 and they did 3,939 transactions, averaging $141,334 per deal. This equated to “almost 14 deals per agent,” according to their press release in the Quad City Times.

Real Trends also ranks companies by their number of transactions. Ruhl&Ruhl ranked 102 and Mel Foster ranked 93. Caroline Ruhl, President of Ruhl&Ruhl REALTORS notes that she is proud of her agents for outselling Foster agents based on doing 16.1 transactions per agent compared to Foster agents “doing almost 14 deals per agent.” She also is confident their residential volume will again exceed Mel Foster’s volume in 2010.

Ruhl&Ruhl had previously reported that they had outsold Mel Foster when they combined their residential volume of $547,890,896 with NAI Commercial Company’s sales volume of $147,692,346, giving the combined companies a total volume of $695,583,242.

Mel Foster had reported a total residential and commercial sales volume of $600,480,000 for 2009, down 12% from 2008.

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 250 sales associates and 50 employees based in sales offices located in Bettendorf, Bellevue, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at http://www.ruhlhomes.com/ .

A review of the Iowa City area residential new construction market statistics for the first quarter of the year reveals that North Liberty continues to lead the way in unit sales, reporting 66% of the overall new home sales in the area, while Iowa City maintained a 14.6% market share with Coralville-Tiffin closing 12.1% of sales and the remaining outlying areas enjoying a 7.3% share of the new home market.  North Liberty’s sales amounted to 50% of all the new houses and 69% of all new condos sold, with no change in overall unit sales, when compared to 2009.  Overall unit sales in the market dropped by 18%, compared with 2009.

Of all closed new house sales, 81% were under $300,000, while 88% of condos sold were under $250,000.  House sales dropped by 11% and condo sales by 22% from last year, as condo sales represented about 60% of the unit sales.  In home sales, ranch style homes amounted to 56% of all sales. 

Lowered inventory levels present a challenge to a recovering residential new construction market, with house inventories down 34% – from 138 to 91 and condo inventories down 33% – from 209 to 140 since 12/31/2009.  Entry level and move-up home inventories must be replenished to keep residential new construction growing, as reliance on upper end home and condo sales has not been proven successful in area markets in recent years.

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 250 sales associates and 50 employees based in sales offices located in Bettendorf, Bellevue, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com .

Residential new construction in Scott County is off to a promising start.  First quarter figures revealed that closed sales of both new houses and new condos were up slightly over the same period in 2009, yielding an overall 13.5% increase in unit sales. 

At the same time, pended new construction residential sales in the month of March more than doubled those of March 2009.  House sales were particularly strong in the $175,000-$300,000 price range, where closed sales were up 60% from 2009.   Meanwhile, sales of homes priced above $400,000 remained unchanged.  Due to lack of inventory, no house sales under the $175,000 level were recorded in the Multiple Listing Service.  Lack of saleable inventory is also evident in other price ranges, as Scott County’s new house inventory dropped 45% when compared to the 3/31/2009 inventory.  Condo sales were also up when compared the 2009, with sales limited to $300,000 and below.

This marked the 4^th consecutive quarter with no reported closed condo sales over $300,000 in Scott County.  Saleable inventory of new condos dropped 33% since 3/31/2009, but the available inventory is focused on the price ranges that have produced recent sales – under $300,000.

 Gains in Scott County new construction sales were offset by slumping numbers in Rock Island County in the first quarter.  Only one new house sale was reported to the Multiple Listing Service during the period, while condo sales dropped 56%.  The impact was a 55% reduction in closed sales for Rock Island County and a total drop of 2% in unit sales for the combined Scott-Rock Island County market.  Overall inventory units dropped 40% in the last twelve months, from 271 to 164.  In the critical price point below $225,000 – inventory also dropped 40%, from 100 to 60 units. Two story homes represented 50% of all the new house sales in the area, representing an upturn from the traditional percentage of about 38%.

While confidence on the part of builders and buyers has returned, any chance for a return to the new home sales numbers of 2006 will require more support from the lending and regulatory communities and an acknowledgement from developers and builders that our market will benefit greatly from more emphasis on entry level and move-up price points in residential new construction and this will feed a return to growth in our homebuilding industry.

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 250 sales associates and 50 employees based in sales offices located in Bettendorf, Bellevue, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at http://www.ruhlhomes.com/

Veronica Pianca, Vice President of Relocation

Ruhl&Ruhl REALTORS was honored for   its outstanding performance during the past year at the 2010 Cartus Broker Network International Conference held March 3-5 at the Desert Springs JW Marriott Resort & Spa in Palm Desert, California.

Ruhl&Ruhl was awarded the Five Star Circle of Excellence Award, which recognizes brokers who have met or exceeded their individual objectives for outgoing broker-to-broker referral closings during the calendar year.

“The effort that Ruhl&Ruhl put forth toward not only achieving but also exceeding their 2009 objectives for outgoing broker-to-broker referral closings is emblematic of the commitment to success that makes our brokers such valued partners,” said Gerald Pearce, Cartus executive vice president, real estate group. “We are proud to be affiliated with this talented group of real estate professionals and look forward to our continued joint success in the future.”

“The importance of placing broker-to-broker referrals cannot be over-emphasized,” said Veronica Pianca, Vice President, Relocation & Business Development for Ruhl&Ruhl REALTORS.  “We are happy to join the list of Network members from around the country who have worked so hard to succeed in doing this.”

In addition to the awards ceremony, the two-day event included interactive workshops, roundtable and panel discussions, and executive presentations. Caroline Ruhl, President of Ruhl&Ruhl and Veronica (Roni) Pianca networked with other industry professionals and exchanged information and ideas regarding team-building, revenue generation, retention, new business strategies, and increasing customer service—all essential elements for continued success. 

About Cartus and the Cartus Broker Network
Cartus Broker Network is the nation’s leading real estate referral network, consisting of approximately 450 principal brokers and 500 associate brokers who serve the clients and customers of Cartus. Cartus Corporation is the premier provider of global mobility management and workforce development solutions serving the corporate, government, and affinity markets. Through its industry-leading mobility management outsourcing, consulting, and intercultural and language training, Cartus helps the mobile workforces of organizations of all sizes achieve success worldwide. With more than 50 years of experience, Cartus helps clients achieve cost reductions and enhance service performance to accomplish their organizational objectives. Cartus is part of Realogy Corporation, the world’s leading real estate franchisor. Realogy has a diversified business model that also includes real estate brokerage, relocation, and title services. Visit http://www.cartus.com and http://www.realogy.com/ for more information.

Ruhl&Ruhl REALTORS, the residential company, has 234 sales associates, 40 employees and ten residential offices serving eastern Iowa and western Illinois, along with its corporate office in Davenport, Iowa. The company annually sells approximately 3,400 homes in the areas it serves, including offices in Davenport, Bettendorf, Clinton, Dubuque, Bellevue, Muscatine, Coralville, DeWitt, and Maquoketa, Iowa and in Moline, Illinois. In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, property management, and mortgage services through 1862 Mortgage. For more information on Ruhl&Ruhl, visit their website at http://www.ruhlhomes.com/.

Quad-City home builders and real estate professionals are gearing up for what they believe will be a strong year for sales of new homes.

That hope comes despite a mixed national outlook.

Sales of newly built, single-family homes declined 11.2 percent in January to a seasonally adjusted annual rate of 309,000 units, the slowest pace on record, according to figures released by the U.S. Commerce Department.

The Midwest was the only region of the country to register an increase in new-home sales in January, posting a 2.1 percent gain from December. The Northeast and West recorded double-digit declines, of 35.1 percent and 11.9 percent, respectively, and the South saw a 9.5 percent decline.

January numbers in the Quad-Cities were flat.

Dave Falk, director of new construction and development for Ruhl & Ruhl Realtors, said that in Scott and Rock Island counties, overall sales of new housing units slipped from 13 a year ago to 12.

But Falk said he believes 2010 will begin to show noticeable improvement over 2009.

“In the first month, in middle of a hard winter, it is tough to compare. But we had more sale activities of new construction with pendings so far this year than last year and there are more pre-sold homes, where a buyer writes a contract and the builder builds it. But we will have to wait until the end of the first quarter to see what we’ve got.”

He said what the numbers do not show is the positive feedback from builders and real estate agents.

Sue Clark-Nissen, chief executive officer of the Quad-City Area Realtor Association, shares Falk’s enthusiasm for 2010.

“To me, (the numbers) show a little more confidence with consumers. If we have consumer confidence in January, it is going to follow in the coming weeks. We are holding our own here.”

Dave Prochaska, owner of Dave Prochaska Construction Inc., has been in the business for more than 30 years and formerly was a real estate agent.

Currently, he is building five homes in subdivisions, three in Prairie Heights in Davenport, one in Cody’s Hunt in LeClaire, Iowa, and one in Loft Acres in Princeton, Iowa.

“That is a lot for winter. Normally, I would be doing about three homes,” he said.

Three of the five are pre-sold, meaning they are being custom-built for buyers. Two others are spec homes, meaning they are built on speculation without specific buyers, Prochaska said.

“You used to see more spec houses,” he said. “As builders, it is easier to build spec houses, but they are also riskier. My approach is somewhat conservative: Never have more than two spec houses sitting at a time.

“Hopefully, we will see a better year than last year. But it might take five or six years to get back to where we were in 2006.”

Jared Kerkhoff of Bettendorf is owner of Jared Kerkhoff Homes Inc. He has been building homes for 10 years and serves as president of the Quad-Cities Home Builders & Remodeling Association board.

He builds mostly higher-end homes in Valley Wynds additions of Bettendorf. “It has been successful even in trying times,” he said.

He closed on eight new homes last year. While his work has remained steady, that is not the case for all builders. “It could be a lot worse,” he said. “Some people out there are not doing so well. It is tough to see that for builders. Some builders are hurting right now.”

He deals mostly with pre-sold homes. “I do one or two specs at a time,” he said, although that can be a “high-risk game. But I try to make the safe gamble. I buy land in safe places. It take what the market gives me.”

“The nice thing about the Quad-Cities is when we see inventories getting high, we put the hammers down. Right now, home builders and the real estate market are poised to do pretty well.”

Dan Dolan, owner of Dolan Homes of Davenport, is a real estate agent for Mel Foster Co. He builds home in subdivisions he has developed in Clinton, Davenport, Blue Grass and Muscatine. He found 2009 to be a strong year. But he knows it has been a struggle for many.

“I think the really scary part has passed,” he said. “I think we will have another good year.”

He said builders like himself, who construct more moderate homes, will fare better. His homes mostly are in the lower $200,000-range.

“People are watching where they spend their money,” he said. “They are looking for quality and value. They have to work with a budget.

“The national trend is homes getting smaller. That part is not going to go away. Smaller homes are more attractive, energy-effective.”

Tom Swanwick is president of RE/MAX River Cities, Bettendorf and a contractor and developer with his own company, Swany Development, building moderately priced homes, mostly in west Davenport.

“We sold four new houses already this year, and we are working on another pre-sold and another four spec houses in a month.”

Swanwick builds homes starting at about $200,000. He has been busy with new homes in large part  because of  land costs in west Davenport. He said one lot may be $30,000 to $40,000 less than a similar sized lot in Bettendorf.

Swanwick also credits programs such as the federal tax credit and Davenport Now for helping to drive  people to buy homes. “I feel real positive about this year,” he said.

His enthusiasm is shared by J.J. Condon, owner of Applestone Homes Inc., which builds custom homes, who says he is “cautiously optimistic.”

“In the Midwest, we never saw the hard times as the rest of country. Here, we put one foot in front of another, and try to make ends meet,” Condon, who also is a real estate agent for Mel Foster, said.

In his case, he sold all of his spec homes over the winter. Two pre-sold in December. “Typically this is a time where you slow down, but this winter has been crazy.”

“After a very long, snowy, cold winter, people are coming out of the woodwork,” added Teresa Rule, a licensed real estate broker with Mel Foster. “I have a lot of buyers interested. I am so busy, I am trying to stay ahead.”

Brian Bowman, executive director of the Quad-Cities Home Builders & Remodelers Association, said several factors might determine how successful the year will be.

“You have a three-layer situation,” he said. “The builders have done their part. The Realtors have done their part. But if the lenders do not do their part, you do not have anything.”

Laura Ernzen, vice president of marketing for IH Mississippi Valley Credit Union in the Quad-Cities, said the criteria for loans has changed in the past 18 to 24 months. However, she said financing is available for qualified borrowers for new-construction home loans.

Taken from www.qctimes.com.

Ruhl&Ruhl REALTORS is pleased to announce the addition of Tiffany Mangler to our team, as the manager of both the Ruhl&Ruhl Maquoketa and DeWitt offices.

 Mangler, the daughter of Dennis and Wendy Scott and Nancy DeVore of Maquoketa, brings a wealth of real estate knowledge and expertise, as well as experience in marketing.

 “It’s been such a pleasure moving back to the area,” said Mangler, who returned to Maquoketa in August of 2008. “We’ve enjoyed seeing family and friends more regularly and love being back in our home town with such wonderful people.

 “Buying and selling a home is a huge investment and one that needs special attention. I am excited to be part of the process locally.” 

 Mangler attended Maquoketa Community Schools and graduated from Coe College in Cedar Rapids with a degree in Business and Marketing. She earned her real estate license in 2002 and had been assisting families in buying and selling real estate in the Cedar Rapids area.

 “Tiffany will be a great leader in our Maquoketa and DeWitt offices,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “I am confident she will continue our history of commitment to our clients and the communities we serve. In addition, her extensive experience in preparing a home for sale and cutting edge marketing plans will enhance the already strong team we have in those areas.”

Mangler’s husband, Brad, is a teacher at Maquoketa High School and the couple has two sons.

Ruhl&Ruhl Celebrates Sales Growth in 2009; Announces Year End Results

Caroline Ruhl, President of Ruhl&Ruhl REALTORS, congratulated her sales associates and staff on “surviving and thriving in 2009”.  She thanked them for their extraordinary customer service.  “You are knowledgeable and highly skilled professionals who consistently outperform your competition and are gaining market share.” The company celebrated at an awards brunch at the i-wireless Center Friday morning. They honored 155 achievement club members.

 1.    Growth in Number of Properties Sold

 Ruhl&Ruhl REALTORS sold 3,770 properties in 2009, as either listing agent or selling agent. 

This was 4.7% more transactions than in 2008. 

 This compares to a 3% decline in sales in the Quad Cities MLS, including a 1% decline in sales in the Iowa Quad Cities and a 5% decline in the Illinois Quad Cities.

2.    Increase in Per Agent Productivity

 On average, Ruhl agents sold 16.1 properties per agent as either listing or selling agents.  This is up from 15.2 sides per agent in 2008.

 Nationally, agents average 7 transactions per year.

3.    Market Share Growth

 In the Quad Cities region, Ruhl&Ruhl has steadily increased market share from 25.16% in 2000 to 31.67% for the combined Iowa and Illinois Quad Cities in 2009.

 In the Iowa Quad Cities, they’ve grown from 32.05% in 2000 to 36.49% in 2009.

 In the Illinois Quad Cities, they have increased steadily from 14.22% in 2000 to 22.73% in 2009, an almost 60% increase in the past 10 years.

 4.    Average Sales Price

 Ruhl&Ruhl’s average sales price was $145,329 in 2009, down from $154,147 in 2008

 The decline was caused by an increase in first time buyers – from 29% of Ruhl buyers in 2008 to 38% of Ruhl buyers in 2009.  The first time buyer tax credit prompted this jump in the first time buyers.

 The average sales price overall in the Quad Cities in 2009 was $138,400.

 5.    Sales Volume

 Ruhl&Ruhl’s residential sales volume in 2009 was $547,890,896, about 1.3% less than 2008.

 When we add NAI Ruhl&Ruhl Commercial Company’s 2009 sales volume of $147,692,346 to Ruhl’s residential sales, the Ruhl companies total sales volume in 2009 was $695,583,242.

 Mel Foster Co. reported total sales volume of $600,480,000 for 2009, down 12% from $682,220,000 the company reported for 2008.

6.    Revenue

 Revenue in a real estate company is primarily gross commission income, or g.c.i..  Ruhl&Ruhl’s 2009 g.c.i. was .8% less than 2008 g.c.i., but earnings were up significantly.

 7.    1862 Mortgage Penetration

 27.3% of Ruhl&Ruhl’s 2009 buyers used the services of 1862 Mortgage, Ruhl&Ruhl’s mortgage partner.  This was an increase from 25.5% buyer penetration in 2008.

 8.    New Construction Sales

 Ruhl&Ruhl REALTORS sold 236 new construction homes in 2009 for a sales volume of $70,813,508, and at an average price of $300,057.  This was 21% less in sales volume than 2008.

 9.    What’s Ahead in 2010?

 Caroline Ruhl expects the first half of the year to be particularly strong due to record low interest rates, the expanded homebuyer tax credit program that is no longer restricted to only first-time homebuyers, and to pent up demand.

 “My concern is that many existing homebuyers don’t realize that they too are now eligible for a $6,500 tax credit – but offers must be written by April 30 and closed by June 30^th,” Ruhl commented. “The $8,000 first-time homebuyer tax credit has been very effective but we need to get the word out to existing homebuyers so they don’t miss this free money.”

 For the first three weeks of January, Ruhl&Ruhl’s pending sales volume was up 100% over the first three weeks of last year, and the number of properties pended for sale was up 64%.

 Interest rates are also projected to go up about a percent in the second half of the year – another good reason for buyers to act now. 

After 148 years in business, the fifth generation of the Ruhl family joins Ruhl&Ruhl REALTORS. Chris Beason, son of Caroline Ruhl, President of Ruhl&Ruhl REALTORS, is now working as a Realtor in the company’s Davenport office.

Chris was born and raised in the Quad Cities and has grown up in the real estate business. After graduating from Assumption High School in Davenport, Iowa, Beason moved to St. Paul, Minnesota to attend the University of St. Thomas. There, he earned a bachelor’s degree in real estate, and then went on to work at two nationally recognized real estate agencies – The Norton Agency in Gainesville, Georgia and The Group, Inc. in Fort Collins, Colorado.

“I am proud and excited to have Chris join our team,” Caroline said. “I know he will continue our commitment to the communities we serve and will be a team player, helping to build on the quality, value and integrity we provide to all of our clients. Plus, he’s fun and will make coming to work even more gratifying.”

Chuck Ruhl Sr., Chris’ 82-year old grandfather, is especially pleased to see another generation join the family business. “I think Chris will be a star in the business,” Chuck said. “The company has improved with each generation’s entry and the new ideas and energy that each person has contributed.” 

Ruhl&Ruhl traces its origins back to 1862 when they started as an insurance agency in the back of a little German grocery store on W. 6^th Street in Davenport. John G. Ruhl added real estate brokerage in 1900. By 1949, the third generation of Ruhl’s had joined the firm, totaling four full-time real estate salesmen with a successful insurance division. In 1982, the real estate and insurance companies separated.

A fourth generation of the Ruhl family was added to the firm with the association in 1976 of Charles A. Ruhl, Jr., in 1980 of Caroline Ruhl and in 1991 of John G. Ruhl.

In 1997, Caroline Ruhl took ownership of Ruhl&Ruhl REALTORS, the residential company. Chuck Ruhl, Jr. opened a new company, Ruhl Commercial, and was joined by his brother John G. Ruhl. Jenny Ruhl joined the company in 2003 and is a trainer and an agent at the Bettendorf Office.

The Quad-City housing market saw housing sales end the month of December ahead of a year ago.

“When we compare our 2008 numbers to 2009, we are up significantly,” Kris Ratigan, Mel Foster Co.’s marketing director, said Monday of the market’s performance.

Citing statistics from the Quad-Cities Multiple Listing Service, or MLS, which tracks all homes sales in the market, she said the area closed $38.193 million in sales in December. That compared with $32.142 million a year earlier. The number of units sold was 241 in December, which was flat with 233 units sold in December 2008.

Caroline Ruhl, the president of Ruhl & Ruhl Realtors, said her company saw an 11.7 percent increase in units sold in December from a year ago. Sales volume was up, from $34.32 million to $41.38 million, in Ruhl & Ruhl’s combined markets.

But the Quad-City area saw sales slide from November to December. In November, the Quad-City MLS posted $48.74 million in sales with 372 units sold. The November performance was boosted, in large part, by first-time homebuyers rushing to close deals ahead of the original federal tax credit deadline.

“We slid, but you normally go down in December because of the cycle,” Ratigan said, adding that the holidays and winter weather traditionally slow down the market.

However, the average sales price for the MLS of $158,478 in December was above both November’s $131,379 average and the $133,657 average a year ago, she said.

Ruhl said one of the indicators to watch is pending sales, which showed strength in December. Her company posted a 26 percent increase in volume and a 39 percent increase in units in year-over-year comparisons.

“That’s a huge December,” she said, adding that the sales were “riding the first-time homebuyer tax credit, good interest rates and what I think is pent up demand.”

Across the Midwest, home sales declined from November to December, but ended the last month up 9 percent from prior-year levels, according to the National Association of Realtors.

There were 86,000 sales in the 11-state region last month, with a median sales price of $173,600, up almost 4 percent.

That was slightly weaker than the national trend.

Total home sales across the country were up nearly 15 percent in December, without adjusting for seasonal factors. The median home price nationally gained nearly 4 percent, to $225,400.

(The Associated Press contributed to this story.)

Provided by: QC Times, Jennifer DeWitt

2009 has been a year of mixed signals to the new home market.  In our regional markets we started to see daylight with some areas showing actual increases in overall unit sales, while most areas that showed decreases in sales experienced smaller decreases than in 2008.  To be certain, we are not experiencing a “boom” time yet, but the signs of stabilization are certainly present.  Inventories have been pared to levels where absorption rates are returning to 2005 -2006 levels.  Prices have not been severely impacted either.  In fact, one segment of the Quad City market had a 7% increase in the average new home sales price over the last year.

The Quad City area continues to see new construction very differently depending upon whether you are in Scott County, IA or in Rock Island County, IL. The Illinois side saw its market share of new construction sales dip below the 20% mark again in 2009, even though it experienced a slight increase in unit sales.  Overall unit sales fell 15% from 2008 levels in the Quad Cities.  House sales took the bulk of the loss, as overall condo sales were only down 2% from 2008.  Since 2004, house sales have fallen from 67% of unit sales to 61% of sales in 2009.  Inventory levels have stabilized and appear well balanced with the price points of recent sales.  The over-development of residential building lots in some areas of this market has left a legacy that is yet undetermined.  Will the need to liquidate lots lead to some lower housing prices or just slower absorption rates?  The coming months will reveal the strategies of lenders and developers alike. 

Current sales patterns reveal pockets of success at various price ranges, but many terrific areas are going unnoticed by consumers who, even in the face of upcoming deadlines for tax and other incentives to buy, do not seem to feel any great sense of urgency.  Coupled with the fact that buyers can choose from a wide variety of settings, home styles and prices, the current tax incentives and still low interest rates will hopefully be enough to “thaw” the winter sales chill and bring buyers back into the marketplace in time to take advantage of these conditions.