Homes Sold Increase 8.92 Percent Over November 2010
LITTLE ROCK (December 28, 2011) – The Arkansas REALTORS® Association, the voice of real estate in Arkansas, announced that existing-home sales rose again in November and continue to remain above a year ago, according to a report by the Arkansas REALTORS® Association. November is the fifth month in which the number of homes sold for the month increased.
The latest monthly data shows that the number of residential properties sold in Arkansas increased 8.92 percent from 1,615 units sold in November of 2010 to 1,759 units sold in November 2011. Average home prices in November in Arkansas increased 3.11 percent from $146,233 a year ago to $150,781. Year-to-date through November housing sales decreased .38 percent while home prices decreased 1.98 percent.
“These numbers are an outstanding sign that home buyers in Arkansas are growing in confidence and are taking advantage of the buyer’s market that continues to exist,” said Amy Glover Bryant, Director of Communications for the statewide Association. “As the Associated Press reported yesterday, it does seem that Americans are gaining faith that the economy is on the upswing which is encouraging and seems to be reflected in the solid home sales Arkansas REALTORS® have seen this fall. Our optimism about the housing market continues to grow.”
According to the National Association of REALTORS®, nationwide single family home sales rose 12.9 percent over November 2010 numbers with the median single-family home prices down 4.0 percent from a year ago. The NAR also reported that in the South existing home sales increased 12.3 percent above a year ago while median home prices declined to $143,300, which is 2.1 percent below November 2010.
Excel and pdf versions of the October report can be found on the Arkansas REALTORS® Association website at https://arkansasrealtors.com/news-events/housing-market-reports
For more information, contact the Association at 501.225.2020.