Region 8 Builders Say Local Housing Market Is Growing - KAIT Jonesboro, AR - Region 8 News, weather, sports

Jonesboro, AR- Rebecca Smith Reports

Region 8 Builders Say Local Housing Market Is Growing

JONESBORO, AR (KAIT) -

"The market in Jonesboro is great," said Bob Harrison.

Harrison should know. He's been building homes here for decades and with that experience he's seen tough times in this business of selling homes. Harrison says in 1981, interest rates made it impossible for his business to profit.

"The interest rate was 21 percent at the time and so things are wonderful today," he said. "I saw last week on one chart, you can get a 30-year, fixed-rate loan, five and a half percent. What could be better than that?"

Harrison's rosy outlook can be attributed to the amount of homes he's been building and selling.

For example, he's sold every home that's been constructed in the new Southbend subdivision off south Stadium Blvd. He's getting ready to build five more.

"We have 130 homes to go here and if I hadn't believed that the market was strong, I wouldn't invest my money here."

You don't have to go by only his word for it. Kiplinger Finance just ranked Jonesboro one of the most affordable towns in the country in which to buy a home.

On a scale of one to 10, one being most affordable and 10 being least affordable, Jonesbsoro pulled a two ranking, with a median price range set at $94,000. Compare that to Flagstaff Arizona, where the average price for a home runs about $360,000. That city ranked a 7.

"Things are really set to boom and we're planning on the boom."


Questions or Comments? E-mail me at rsmith@kait8.com

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