Homes sales up 25 percent in April
Arkansas homes sales went up for the second month in a row, thanks to people rushing to beat the April 30 deadline for a first-time home buyer tax credit of up to $8,000 and a repeat buyer credit of up to $6,500.
The Arkansas Realtors Association’s latest housing market report shows that sales improved by 25 percent in April compared to the same month a year ago. Average sales prices went up only slightly and sales through April were up 11.7 percent compared to the first four months of 2009.
What will happen now that the tax credits are gone? Jonathan Moore, president of the Mortgage Bankers Association of Arkansas, said buyers can take advantage of interest rates that are approaching historic lows and low list prices to find some bargains.
Will sales continue to improve now that tax credits — which have been in place in one form another since 2008 — are out of the system? Stay tuned…
Benton resident. Rogue journalist. Recovering attorney. Email = Ethan@FirstArkansasNews.net.