Real Estate Market Trends

By the Numbers: October's Housing Market

Recent trends in the nation's housing market, such as rising interest rates, a lack of inventory, and low affordability, have together contributed to a minor slowdown over the course of the last several months. Although these issues aren't exactly fun, it is important to remember that they represent a needed correction to the unsustainably high rate of home price growth which had been ongoing in many cities across the country. With that being said, the National Association of Realtor's October report on existing-home sales reveals some reasons to be hopeful about the housing market's trajectory. Keep reading to learn about October by the numbers!

Arkansas Averages Some of the Smallest Down Payments

Potential home buyers consistently regard saving for the down payment as one of the greatest barriers to buying a home, and who can blame them? Although the exact dollar amount required up front by the lender depends on the type of mortgage and purchase price, buyers generally need to come up with several tens of thousands of dollars in order to take out their home loan. Of course, as is true with any statistic, there is a wide range of averages observed across the nation's fifty states, and both down payment amounts and percentages follow this rule. With that in mind, LendingTree sought to determine which state's mortgage borrowers were offering up the largest and smallest down payments in Q3. They found that Arkansas buyers paid some of the smallest amounts up front, both in dollars and as a percentage.

Where Does Arkansas Rank in Yard Size?

How large (or small) is an average home's yard in each state? It's a relatively simple question, but one which yields a vast range of answers. In fact, the yards in the highest-ranked state average almost 74,000 square feet, while those in the last-place state are a measly 4,300! Where does Arkansas fall along the spectrum? The Natural State ranks a very impressive 8th, with an average yard coming in at over 30,000 square feet! Keep reading to learn which homeowners have the most outdoor room to roam on their property.