Struggling housing market does not affect Craighead County

By Amanda Hanson  - bio | email feedback

JONESBORO, AR (KAIT)- Lately, the U.S. housing market has been like a roller coaster. Earlier a tax credit for first time home buyers drove the numbers up, but that credit is gone and the numbers have dropped! While the housing market nationwide has taken a hit, According to the latest numbers, home sales in Craighead county have boomed, up ten-percent over last year's sales.

"My work load is all I can get to," says real estate agent Dell Parker. "Even though sales are as low as they've ever been in 47 years nationwide, I'm getting that from Good Morning America, we've had good sales here in Jonesboro."

While the National Association of Realtors says housing sales nationally have dropped since the tax credit ended April 30th, Craighead County has seen a 36 percent increase in sales in June than a year ago.

"We have an economy here that is supported by agriculture. You have companies here like Nordex, Frito-Lay, Nicepak, and the list goes on that provides employment," Parker explains, as well as the economic contribution from individuals from the surrounding areas.

And when the economy is good, sales are good. "I do think it's a sign that our economy is leveling off. I think we are returning. I think that we will see better days. Maybe even better than Jonesboro has ever seen," says Parker.

He says if you're looking into purchasing a home, now is the time to buy. "Lowest interest rates in history. I don't know of them ever  being lower in my life. I got a quote last week on a 15 year note conventional at 3.75 percent."

It's so good Parker is even looking to take advantage of what the housing market is offering. "I have a house that I'm very happy with, but seeing the opportunities there, and my experience as a realtor, it's got me considering it myself. I'm looking actively."

While Parker says it's taking longer to sell a house than last year, they're actually getting better prices. He says if the seller can wait it out, they'll actually get more for their homes than they did a year ago.

To view other counties statistics just go to http://www.arkansasbusiness.com/article.aspx?aID=123359

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