Arkansas Home Sales Strong Through May

Home sales in Arkansas’ four largest markets during the first five months of 2013 are up more than 10%, and the value of homes sold are up more than 15%, according to The City Wire’s Arkansas Home Sales Report.

The gains are broad, with only the Fort Smith area seeing declines in the number and value of homes sold in the first five months of 2013.

In the four markets, the number of homes sold totaled 7,749, up 10.12% compared to the first five months of 2012. The value of homes sold in the four markets between January and May totals $1.272 billion, up 15.19% compared to the same period in 2012.

For the first five months of 2013, the number of homes sold in central Arkansas are up 8.9%, up 8.62% in the Jonesboro area and up 15.01% in Northwest Arkansas. Sales during the same period are down 0.16%% in the Fort Smith area, and the values are down 4.57% compared to the first five months of 2011.

The City Wire’s Arkansas Home Sales Report captures home sales data in the state’s 14 most populated counties within the state’s four largest metro areas — Central Arkansas, Fort Smith area, Jonesboro/Northeast Arkansas and Northwest Arkansas. The report, which records closed sales, accounts for between 70% and 75% of total Arkansas home sales. The report counts the number of sales closed in May.

The total value of homes sold in the four markets between January and May was $366.379 million, up 10.48% compared to the 2012 period, and up 23.38% compared to the 2011 period.

Home sales activity was up for all markets during May. There were 890 homes sold in central Arkansas, up 5.2% compared to May 2012, and up 20.9% compared to May 2011.

May home sales totaled 663 in Northwest Arkansas, up 8.87% compared to May 2012 and up 21.43% compared to May 2011.

Jonesboro area home sales totaled 199, up 19.88% compared to May 2012 and up 43.17% compared to May 2011. In the Fort Smith area, home sales totaled 151, up 3.42% compared to May 2012, but down 1.95% compared to May 2011.

THE REGIONAL PICTURE
Central Arkansas — Home sales
Jan.-May 2013: 3,662
Jan.-May 2012: 3,362
Jan.-May 2011: 3,135

Fort Smith area — Home sales
Jan.-May 2013: 626
Jan.-May 2012: 627
Jan.-May 2011: 656

Jonesboro area — Home sales
Jan.-May 2013: 756
Jan.-May 2012: 696
Jan.-May 2011: 704

Northwest Arkansas — Home sales
Jan.-May 2013: 2,705
Jan.-May 2012: 2,352
Jan.-May 2011: 2,232

The top five counties in terms of Jan.-May 2013 home sales:
Benton — 1,689, up compared to 1,473 in 2012
Pulaski — 1,680, up compared to 1,614 in 2012
Washington — 1,016, up compared to 879 in 2012
Craighead — 606, up compared to 538 in 2012
Faulkner — 584, up compared to 460 in 2012

For commentary from realtors in each of the four major markets analyzed, click here to read more.