October Home Sales Up Slightly, Full Year Totals Improve

The Arkansas Realtors Association reported October home sales — which showed a mixed bag of results in the major markets — slipping slightly, but sales still showed some improvement year-to-date.

For the month, the ARA said statewide units sold improved 0.66%, while valuations climbed 1.8% higher.  Average home prices also rose 1.13% during October to $146,053.

As Talk Business reported last week, home sales in central Arkansas rose for the fourth straight month in October, while northwest Arkansas saw sales slide after 3 months of year-over-year improvement.

In the ARA report released today, housing sales in the Jonesboro market fell by 10.9% in October.

“Arkansas home sales continue to be steady,” said Amy Glover Bryant, Director of Communications for the ARA. “As analysts have long been aware, home sales traditionally drop off after August.  The holiday season can also precipitate a drop in sales.

Year-to-date, home sales are off by 0.26%, according to the ARA figures. Total valuations, or the dollar amounts of those units sold, is down 2.8% for the year. Average prices statewide are trailing 2.6% lower than a year ago at $140,999.

You can access the full report at this link.