LITTLE ROCK (September 29, 2011) – The Arkansas REALTORS® Association, the voice of real estate in Arkansas, announced that August home sales were 19.87 percent higher than August 2010. In addition, values of homes increased by 11.60 percent, while the average price of a home in Arkansas decreased by 7 percent.
“As the Arkansas Realtors Association predicted, Arkansas home sales for the month of August were strong,” said Amy Glover Bryant, Director of Communications for the Association. “Considering the bumpy nature of our local and national economy, we feel Arkansas home sales are doing very well for the year. For the first 8 months of the year the number of homes sold in Arkansas is only down 3.48 percent and average prices are down 2.62 percent. That’s a strong showing considering the economic uncertainties facing most Americans these days and that almost all of the 2011 numbers have been in contrast to a time period when our results were being compared with months when the government’s first time home buyer’s tax credit was in play.
“As the voice of real estate in Arkansas, we encourage Arkansans looking to buy a new home to get out, enjoy the great fall weather we are experiencing and work with your local Realtor to find a new home at a great price,” said Glover Bryant.
Excel and pdf versions of the August report can be found on the Arkansas Realtors® Association website at https://arkansasrealtors.com/news-events/housing-market-reports
According to a recent NAR news release, in the South, existing-home sales increased 5.4 percent to an annual level of 1.94 million in August and are 16.9 percent above August 2010. The median price in the South was $151,000, which is 0.8 percent below a year ago.
For more information, contact the Association at 501.225.2020.