Arkansas homes sales up in first quarter
For the purposes of this report, the major markets are located in the 14 counties of central Arkansas, the Fort Smith area, the Jonesboro area and northwest Arkansas. About 70 to 75 percent of the homes sold in Arkansas are in those combined four areas.
Through March, sales closed on 3,675 homes in those areas — up from 3,521 in the first quarter last year. The first quarter sales are also ahead of those in 2010 and 2009, but 11 percent down from sales in 2008. The first quarter, then, falls right in line with a projection by State Economic Forecaster Michael Pakko, who predicted that real estate markets in Arkansas will improve this year compared to 2011. He pointed out, however, that 2011 is one of the worst years on record for real estate sales.
Benton resident. Rogue journalist. Recovering attorney. Email = Ethan@FirstArkansasNews.net.