Arkansas home sales up 12.5 percent from year ago

CONWAY, Ark. (KTHV) -- According to a report released by the Arkansas Realtor's Association, home sales in the Natural State are up 12.5 percent from one year ago with the brunt of the sale increase being felt in Faulkner County where sales increased by 50 percent.

The numbers come as somewhat of a surprise as national home sales are plummeting to their lowest numbers since July 2012.

"This is a very stable area; it always has been a very stable area," said veteran realtor Patricia Hepner, who has been a realtor in the area for 42 years. "We have three four year colleges here, and we have a lot to offer the families [that move here]."

The county sold 121 homes this February, which is up from around 80 during the same period last year. The boom comes courtesy of low interest rates, which have dipped down to around four percent. Faulkner County isn't the only area that's seeing a strong market. Saline County has seen its home sales rise by 28 percent, and Garland County by almost 14 percent. Even Benton has increased its sales, selling more than 200 homes this February.

"[Buyers] aren't only [getting] a good deal, but you can buy more house," continued Hepner. "If you're paying four percent interest rather than 16 or 10 percent interest, you're going to be able to buy more house for the same price."

While most of the state has experienced a housing boom, some counties, like Pulaski and Lonoke, haven't seen a rise. Lonoke County actually dropped in sales by about five percent.

Realtors believe the increase in areas of the state could continue for some time as the nice weather brings out more buyers to look at homes.


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