As the director of media relations for the Arkansas Realtors® Association, I track weekly average/median list prices and inventories from four housing markets throughout the state.To see the latest report, click right here.
Yes, we've managed to avoid a lot of the struggles in Arkansas that have plagued housing markets throughout the nation. Prices here pretty much remained reasonable throughout the boom years and they've held up pretty well throughout the past couple of years -- quite a feat as declines have been the norm in other states.
2 comments:
Why do you think the Arkansas economy is so different from the rest of the country? I'm in Massachusetts, and we're on quite a real estate roller coaster here. A one way roller coaster DOWN! I'm lucky to have purchased a few years before the bubble burst, so I'm ok, but I know many people that couldn't sell there homes right now, there mortgage is so much bigger than what the current value is. Nice post- stumbling
Honestly? We didn't have the insane increases in value that were common in other parts of the country. When something doesn't go up too much, it can't fall too hard, either.
In this state, northwest Arkansas say the most radical increases in prices, and the drops there have been more severe (sales in the two major counties up there are down by a whopping 29.7 percent compared to last year). Not coincidentally, the property values went up a lot faster than they did elsewhere.
We've got some declines, to be sure. But, they're not as radical as what we've seen in a lot of markets. Not a bad position to be in right now at all!
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