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ARA: Home sales increase 16 percent | Business

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ARA: Home sales increase 16 percent
ARA: Home sales increase 16 percent

LITTLE ROCK, Ark. - The Arkansas REALTORS® Association  announced that September home sales were 10.28 percent higher than September 2010 while the average price of a home in Arkansas increased by less than 1 percent.  For the quarter (July - September), home sales increased 16 percent with the average price of a home in Arkansas decreasing almost 4 percent.

"As the Arkansas REALTORS® Association has been predicting, Arkansas home sales continue to be quite strong," said Amy Glover Bryant, Director of Communications for the Association.  "In the third quarter, Arkansas REALTORS® sold a total of 6,671 homes versus 5,719 in the third quarter of 2010.  Average prices during that time period were $143,944 compared to the third quarter of 2010 when the average price of a home in Arkansas was $149,430.  Affordability and strong mortgage rates are certainly helping to drive this year's improved numbers.  We do expect a slow down as we move in to the fall and in to the holiday season when sales are traditionally slower," said Glover Bryant. 

Excel and pdf versions of the August report can be found on the Arkansas Realtors® Association website at http://www.arkansasrealtors.com/news-events/housing-market-reports

According to a recent NAR news release, in the South, existing-home sales declined by 2.6 percent to an annual level of 1.89 million in September but are 10.5 percent above September 2010. The median price in the South was $144,400, which is 3.0 percent below a year ago. 

For more information, contact the Association at 501.225.2020.