Arkansas Housing Market Continued to Cool in November

DECEMBER 30, 2005 - Posted at 1:05 p.m. CST

LITTLE ROCK, AR - The Arkansas housing market continued to cool in November.  It was the third straight month that new and existing home sales were lower than those in the previous month.

Ethan Nobles, spokesman for the Arkansas Realtors Association, said there may be an explanation for the lower November numbers.  He said data for three northwest Arkansas counties might not be complete.

The number of units sold in the 37 counties surveyed by the association dropped nearly seven percent to 2,342 in November from 2,517 in October.

The average home price was about $150,000.

Still, it was a good year for housing sales overall.  The number of houses sold in the first eleven months of 2005 was about nine percent higher than the number sold in the first eleven months of 2004.

(Copyright 2005 by The Associated Press.  All Rights Reserved.)