Arkansas Sees 15% Rise in June Homes Sales
The Arkansas housing market continues its upward march in the latest report from the Arkansas Realtors Asscociation. Compared to the same time last year, the report found that the number of homes sold in June increased by nearly 15% across the state. In addition, the average price paid for those homes sold increased by close to 3 percent, from $164,227 in June 2014 to $169,091 in June 2015. This is all good news for those lucky enough to call Arkansas home!
In fact, the report found increases for every statistic, including sales compared to this point last year (up 8.5%), home valuations for the month (up over 18%), home valuations for the year (up 13.5%), and average price paid for the year (up over 4.5%).
The big winner was Benton County, which topped the report in five of the six categories. Moreover, Benton county managed to post over 20% increases in units sold for the month (535 units), valuations for the month ($112,659,230), and valuations for the year ($500,426,267). Only in highest average prices for the month was it defeated, by Washington county.
Although it did not lead any categories, Saline County did make the top five in all but one of the six examined. Especially impressive were its nearly 32% increase in units sold and its 42% increase in valuation, both compared to June 2014.
Karen Crowson, a managing broker in Saline County and past president of the Arkansas Realtors Association, said that the numbers for Saline County were "very exciting" for June. She added that "Everything that I have seen from the association, including economists in our area, indicate that sales should continue to go up through end of the year. There are many loans available out there, there is financing available and I think there is a good supply of inventory."
Crowson went on to attribute the success of Benton County, at least in part, to the presence of Wal-Mart and its vendors.
Garland county also showed strong growth, with around 17% increases in both units sold and valuation compared to June 2014.
- Cheryl Bourland's blog
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