Home sales in Arkansas grew nearly 9% compared to last November boosting year-to-date totals near last year’s levels, according to the latest statistics from the Arkansas Realtors Association.
During November 2011, 1,759 housing units were sold in Arkansas compared to 1,615 in November 2010. While units sold jumped 8.9% year-over-year, the value of those homes sold rose 12.3% reflecting a rise in average home prices. For the month, the average price of a home in Arkansas increased 3.1% to $150,781.
The ARA said that November was the fifth consecutive month for rising home sales.
“These numbers are an outstanding sign that home buyers in Arkansas are growing in confidence and are taking advantage of the buyer’s market that continues to exist,” said Amy Glover Bryant, Director of Communications for the ARA.
Year-to-date, home sales in Arkansas are down just 0.38%. However, total valuations are down 2.36% with a little over $3.16 billion in home sales for the first 11 months of the year.
Average home prices in Arkansas are down 1.98% to $141,932 for the full year.
You can read a breakout of county-by-county markets and the full report at this link.