Housing prices up: Correction | Arkansas Blog

Thursday, January 26, 2012

Housing prices up: Correction

Posted By on Thu, Jan 26, 2012 at 9:17 AM

Arkansas realtors say sales indicate a "possible recovery" in the housing market: Average December existing home prices rose by 5 2 percent [corrected by Realtors Association] over December 2010, from $144,842 to $152,403, the Arkansas Realtors Association announced this morning.

In the 42 counties the association measures, however, sales were down 6 percent in December 2011 (1,785) compared to December 2010 (1,903).

Release on jump.

LITTLE ROCK (January 26, 2011) - The Arkansas REALTORS® Association, the voice of real estate in Arkansas, announced that existing-home prices rose for the fourth month in December. Average prices of homes in the 42 county area monitored by the Association increased 2 percent from $144,842 in December 2010 to $147,795 in 2011. (Washington County’s numbers were miscalculated). This also changes the top 5 counties with highest average prices and the valuation totals for the top five markets.

The number of units sold in December decreased 6 percent from 1,903 in December 2010 to 1,785 for the same month in 2011.

For the year, the number of home sold as compared to 2010 decreased less than 1 percent while average prices decreased slightly more than 1 percent.

“We find these to be very encouraging numbers and early signs of a possible recovery in the housing market," said Amy Glover Bryant, Director of Communications for the Association. "What is important to sustain this recovery are continuing low mortgage interest rates, job creation and a renaissance in American's belief that the American Dream of home ownership is still possible for them. More buyers coming into the market mean additional benefits for the overall economy in Arkansas. A typical home sale pumps a total of $60,000 into the economy over time because when a house sells, jobs are created. The importance of the housing market in relation to our state’s well-being couldn’t be more evident than it is right now."

“We would describe 2011 as a rebuilding year, as well as one full of tremendous achievements,” said Dana Powell, 2012 President of the Arkansas Realtors®Association. “The market is showing signs of improvement, and more than ever, people aspire to become homeowners. Throughout the past year Realtors® have worked hard to make sure everyone who is willing and able to assume the responsibilities of owning a home should have the opportunity to pursue that dream.”

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

For information on national numbers from the National Association of REALTORS®, please visit http://www.realtor.org/press_room/news_releases/2012/01/ehs_dec

For more information, contact Glover Bryant at the Association at 501.225.2020 or on her wireless at 501.786.9415.


Sign up for the Daily Update email

Comments (6)

Showing 1-6 of 6

Add a comment

Subscribe to this thread:
Showing 1-6 of 6

Add a comment

More by Leslie Newell Peacock

  • Satia Spencer & Friends at Wildwood

    Elephantom at Stickyz and other things to do.
    • Jul 19, 2018
  • A deeper dive into a wider 30

    A look at ARDOT's environmental report.
    • Jul 18, 2018
  • UAMS restarts cardiac surgery program

    The University of Arkansas for Medical Sciences, which had to suspend its cardiac surgical care in May when its heart surgeon, Dr. Gareth Tobler, retired before a new hire had been made, has resumed its program.
    • Jul 13, 2018
  • More »

Readers also liked…

  • Your daily dose of Jason Rapert

    Sen. Jason Rapert really, really didn't like it when a KATV reporter asked him about the hypocrisy of his political arguments.
    • Feb 4, 2017
  • Trump's strangulation of Obamacare

    If he can't kill it outright, Donald Trump will do all he can to cripple Obamacare. Vox has detailed reporting on deep cuts in federal spending that support nonprofit agencies that help people sign up for coverage under the Affordable Care Act.
    • Sep 18, 2017
  • Free Zinn book for Arkansas teachers

    Arkansas teachers! Get your free Howard Zinn book here! Whether Kim Hendren likes it or not.
    • Mar 3, 2017

Most Viewed

Most Recent Comments



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation