Arkansas Housing Market Holding Firm for Year

The Arkansas REALTORS® Association reported today that Arkansas home sales saw a slight slowdown in February after seeing a 13 percent increase in the number of Arkansas homes sold in January 2011 as compared with the same period last year.  According to today’s report, Arkansas home sales saw an almost 6% decrease sold in February as compared with the same month last year while the average price of homes sold in the 42 county area covered by the report experienced an increase of more than 1.5 percent to $136,300.

The following is a link to the full report in Excel format http://dl.dropbox.com/u/12295076/February2011%20Housing_FINAL.xls

The National Association of Realtors® reported on March 21 that existing home sales in the South fell 10.2 percent and that the median home price in the South was $134,600.  The following is a link to the full news release from NAR: http://www.realtor.org/press_room/news_releases/2011/03/feb_decline

“As is typical for the first quarter of any year, Arkansas home sales are sluggish,” said Amy Glover Bryant, Director of Communications for the Association.  “However, for the year to date the report reflects increases, though small, in the areas of units sold, home values and average home prices.  We see this as an encouraging sign when you take in to consideration that during the same period last year the federal government was rolling out the first-time home buyer tax credit.  In short, we are holding our own.”

A number of Arkansas counties experienced strong gains in the number of homes sold in February 2011 including Faulkner, Arkansas and Boone which saw 42 percent, 80 percent and 31 percent increases in the number of homes sold, respectively.

Representatives of the Arkansas Realtors® Association will be available throughout today to discuss the Arkansas numbers.  To set up an interview,
please contact Amy Glover Bryant, Director of Communications at 501.225.2020 or at 501.786.9415.  

As always, please keep in mind that this is an approximation of the Arkansas housing market based on the information provided to the Association at the
time of the report’s distribution.  Data is provided by REALTORS® reporting through participating multiple listing services in Arkansas and while deemed
reliable is not guaranteed.

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Filed under arkansas realtors association, consumer issues, housing report

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