The Arkansas Realtors® Association announced this morning that home sales in June totaled 3,113, an increase of 15.0% from the previous year, and the highest single-month sales total since May 2007.  The June increase brings the year-to-date total for 2015 to 14,716, 8.5% higher than the January-June total for 2014.

Source: Arkansas Realtors® Association

After seasonally adjusting the data and aggregating to quarterly totals, the upward trend over the past three years is clear — shown in the figure below.  The second quarter of 2015 represents the third consecutive quarter for which year-over-year growth rates have exceeded 10%.  The data from the first half of 2015 suggest that home sales are on track to finish the year with an annual increase of nearly 10%, as we forecasted last October.

Source: Arkansas Realtors® Association; Seasonally adjusted by the Institute for Economic Advancement