Arkansas REALTORSR Association Reports Outstanding February

Arkansas REALTORS® Association Reports Outstanding February
Arkansas REALTORS® had an active month in February.  The number of homes sold in Arkansas in February rose by 15.41 percent over a year ago.  The average price of those homes sold remained relatively even at $135,875. For the year the number of home sold increased 8.65 percent and the average price for the first two months of the year increased by 1.08 percent over the same time period in 2011.

According to Lawrence Yun, NAR chief economist, underlying factors are much better compared to one year ago. “The market is trending up unevenly, with record high consumer buying power and sustained job gains giving buyers the confidence they need to get into the market. Although relatively unusual, there will be rising demand for both rental space and homeownership this year. The great suppression in household formation during the past four years was unsustainable, and a pent-up demand could burst forth from the improving economy.”

Posted via email from Scott Deaton's Blog