Arkansas homes sales up in May
According to the Arkansas Realtors Association (ARA), homes sales in Arkansas were up sharply in May.
There were 2,524 single-family homes sold by Realtors through multiple listings services in the Natural State in May — up 14.16 percent over 2,211 sales in May 2009. The average sales price in May was $149,382 — down slightly from $149,454 a year ago.
Click here for the Microsoft Excel version of the May housing market report from the ARA and here for the PDF. You’ll find some commentary on the report here at the ARA’s news site. There are some dandy maps and other goodies over there, too.
What’s influencing the numbers? The ARA report reflects the number of completed transactions in May. A good number of those closings were influenced by the $8,000 tax credit for first-time buyers and the $6,500 one for repeat buyers. Eligible purchasers had until April 30 to get homes under contact and were directed to close on them prior to July 1.
That being the case, the tax credits will influence the June housing market report from the ARA, too. Actually, the tax credits may impact additional reports should President Barack Obama sign off as expected on legislation passed last night by Congress that will direct buyers to close on their transactions before Oct. 1.
Benton resident. Rogue journalist. Recovering attorney. Email = Ethan@FirstArkansasNews.net.