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Arkansas Home Sales Up Again in February

The Arkansas Realtors® Association reported this morning that February home sales were up 12.6% from the previous year.  For the first two months of 2014, home sales are up 11.5%.  January and February are typically slow months of the year, but it is noteworthy that sales are up from 2013:  Last year turned out to be a fairly strong sales year overall, and the harsh winter weather so far in 2014 has probably meant delays for some home buyers.

Source:  Arkansas Realtors® Association
Source: Arkansas Realtors® Association

The table below shows sales for the largest 10 counties in the state.  Sales were up sharply in 6 of the 10, with modest declines in Lonoke, Washington and Pulaski counties.  Home sales in Sebastian County were down 13.5% from the February 2013; however, Sebastian County sales were particularly strong in Februrary 2013 (up 27% from the previous year).  As a matter of fact, each of the counties that showed sales declines in February of this year had particularly strong sales growth a year ago.

Source:  Arkansas Realtors® Association
Source: Arkansas Realtors® Association

Looking at the two largest metro areas, the sales figures for individual counties average out to provide a more consistent view of sales growth.  Total home sales in Benton and Washington Counties were up 12.2% in February, and up 8.7% for the first two months of the year.  Combining the Central Arkansas counties of  Faulkner, Lonoke, Pulaski and Saline, February sales were up 11.8% from a year ago.  Cumulative sales for the first two months of the year were up 5.9% for the four Central Arkansas counties.