In these reports we have been looking at the Absorption rate on home sales by area. Today I looked at how sales were doing by price range. The most active price range is below $300,000. First Time Buyer Tax Credit, FHA and VA loan limits contribute to making these price ranges sell well. Within these price homes the most activity in in the $100,000 to $200,000 price range. This price range only has just under a 6 month supply and an average days on market of under ninety days. In prices over $300,000 there is over a year supply of homes on the market at the present rate of sales. For homes over $750,000 there is a 21 month supply of homes for sale. As the trends by area have shown the areas with the more expensive homes for sale are the slowest moving markets. In these price ranges there are sales being made but not at a fast enough rate maintain prices. We are still seeing that homes priced the best and in the best condition are selling quickly, all others are setting on the market for a while. What could help this upper price range the most is a better mortgage loan rate and availability for these homes that are above the conforming loan value of $415,000 here in Arkansas.
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