August Home Sales Trends Remain Positive for Little Rock Area

The Market Absorption Rate continues to move down at the end of August in almost all areas. Out of the eleven areas that are followed in the Little Rock area all but 4 have a listing inventory of under six months and a average days on market of 90 days are less. West Pulaski county, which includes the Chenal area, remains the area with the biggest inventory but this area may have improved the most over the last few months. It has gone from an absorption rate of over a year to now a little under ten months. These trends have been slow but consistent positive trends each month. Low rates, first time buyer tax credit and good value in homes continue to push these trends.