Home prices rise 3.5% in Quad City market

QUAD CITIES (KWQC) - Home prices are rising in the Quad City housing market.

Ruhl & Ruhl Realtors just released a report that shows the Quad City market saw a bigger increase in home prices than Des Moines or Chicago in 2019.

The company says home prices increased 3-and-a-half percent in the Quad Cities--which includes Davenport, Moline and Rock Island. In Des Moines, prices rose 2-and-a-half percent. In Chicago, prices rose 1-and-a-half percent.

The report also says Quad City homes have appreciated by 14-percent over the last five years. The figures come from the Federal Housing Finance Agency.

Ruhl & Ruhl says there continues to be a shortage of homes for sale despite demand for affordable homes.