Sales for the six month period from June 1 through November continue to increase each month. Average days on the market for the target areas has drop to 64 days down from 77 days at the end of October. For the first time every area showed improving numbers over the October numbers. The number of sales increased about 5% and the number of homes for sale on the market went down. Only the west Pulaski County and Chenal area had over a six month supply of homes. This inventory reduction is due to increased sales and some homes that did not sale being taken off the market. It will be interesting to see if these trends can continue through December. December sales tend to slow because of the holidays but right now activity seem to be high for December. First Time Buyer and Move up Buyer Tax Credits should keep the market moving at to it runs out in April. Hopefully by then the market will have improved enough to carry on with out the tax credits.
|MLS||Solds||Avg. Solds||Active||Abs. Rate||Aver Days|
|Area||6 Mos.||Per Mo||Listings||in Mos.||on Market|
|LR Area 7||398||66.33||215||3.2||49|
|LR Area 5||236||39.33||159||4.0||61|
|Area 11 NLR||155||25.83||120||4.6||70|
|Area 10 NLR||110||18.33||87||4.7||71|
|LR Area 17||154||25.67||209||8.1||122|