Iowa City cited as 'Top Turnaround Town' by REALTOR.com

Iowa City has made REALTOR.com's list of 'Top Turnaround Towns' in the economic recovery.

The realty site said placed Iowa City No. 21 on its list of cities ranked on the strength of recovery in their real estate markets.

Listing prices are up 6.81% on a year-over-year quarterly basis, a REALTOR.com article said, and inventories dropped -26.24 percent. The Iowa City market's foreclosure rate of only one in every 1,447 units is much lower than the national average of 1 in every 662 units, the article said, also noting the community's low 4.2 percent jobless rate.

REALTOR.com is the official web site of the National Association of Realtors. The group's Top Turnaround Markets list was topped by Florida markets, but the group noted a strong concentration of strong turnaround markets in the Midwest and West, including Iowa City, Minneapolis-St. Paul and Grand Rapids, Mich.