Home sales reportedly showing a RECORD increase in January. This is an all-time high for the last 4 ½ years. The Commerce department stated that the sales of homes increased 15.6% and this current number of homes sold has not been this high since July of 2008.
Not since April 1993 has America seen such an increase in the percentage of home sales. This is phenomenal and very much news worthy for home owners, home buyer’s and anyone involved in real estate or investment properties.
In fact, the number of homes available for sale on the market is less than the demand from investors and home buyers. This is not anything new for the Northwest Arkansas area. I reported recently about the amount of new construction being built and the construction company productivity pace being bumped up for 2013. This bump in production was to keep up with the demands of home buyer’s and investors. Construction crews and companies barely met these demands last year and recognized the issue being intense in 2013 as well. It is because of this that construction of new homes and properties in NWA is being beefed up even more.
With interest rates on home mortgages as all-time lows and the rate of construction being so incredibly high, there is no reason under the sun that perspective home buyer’s should not make their move NOW. It is more a Buyer’s market now than ever before.
I hope this information yields the encouragement we have all been hoping for as our economy mends itself. If there is any information you would like to learn more about regarding real estate investment in NW Arkansas or anything else for that matter, please never hesitate to contact me. As your local Arkansas Buyer’s Agent, it is my job to keep you informed and to help you make educated and knowledgeable real estate investment moves.
Have a great week everyone!
-Steve Atwell, Buyer’s First Realty-
Arkansas Buyer’s Agent for Northwest Arkansas