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Home sales fall 23 percent in May, prices fall 2 percent Friday, Jul 11, 2008 Arkansas News Bureau LITTLE ROCK - The number of homes sold in Arkansas in May fell 22.8 percent compared to the same month last year and the average price of homes sold fell 2 percent, the Arkansas Realtors Association reported Thursday. Statewide, 2,428 homes were sold in May for an average price of $156,143. In May 2007, 3,146 homes were sold for an average price of $159,273. Pulaski County had the most home sales in the state in May, although sales fell by 21.7 percent compared to the same month last year. Benton and Washington counties rounded out the top three counties last month in terms of sales, reporting declines of 31.5 percent and 44.3 percent, respectively. Garland and Saline counties trailed in home sales, and there sales declined 21.6 percent and 22.4 percent, respectively. Garland County had the highest average sale price at $194,990, up 15.9 percent, which was also the largest average price increase among the top five counties in terms of average sale prices, according to the association's report. The report contains data for more than 50 percent of the state's housing market and includes all the major metropolitan areas. |
