Homes Sales in Little Rock Arkansas Area Continue On Slower Trend

The number of single family homes that sold over the previous six months continued to go down from a high at the end of November 2009. The number of homes of the market for sale had also been going down but this number was gone up by 4.12% at the end of March. The Absorption Rate (number of months need to sale all the homes on the market and present sales rate) went up from six months at the end of last month to seven months at the end of March. The 2009 First Time Buyer Tax Credit that ended at the end of November made a big impact in November numbers. So far the 2010 Tax Credit which ends April 30 does not seems to have had as much of a positive effect. Going into the last month of the tax credit extension, it will need to be seen if there will be a rush like we saw last November this month. What this means to sellers is that it remains a very competitive market to sale a home but some are selling. The properties priced the best and in the best condition are selling quickly. The others are setting on the market. It will be interesting to see if the spring season can start a stronger market for home sales.