Dramatic Drop in Home Sales in Greene County - KAIT Jonesboro, AR - Region 8 News, weather, sports

Paragould, AR -- Brandi Hodges Reports

Dramatic Drop in Home Sales in Greene County

PARAGOLD, AR (KAIT) -- A dramatic January drop in home sales is being felt in Greene County.  In January of 2008 there were 22 homes sold, in the same month of this year there were only six homes sold.  Realtors in Paragould say this is partly a sign of the times.

"I think it's kind of an indication that people are hesitant about speculating in real estate or moving up right now.  They are trying to see what the economy will eventually do," said Carolyn Hurley-Block.

Connie Graves has lived in her Paragould home for three years.  Now that she has plans to get married her home is on the market.

"Pretty concerned about whether or not somebody is going to be able to come in and buy it and if I'm going to be able to get what I need to get," said Graves.

This house has only been on the market since January

"I've had one showing and the couple that came in came in the middle of the ice storm," said Graves.

But with the current housing market, Graves worries she may have to take less than she's asking.

"I'm not looking to make money on the house I'm just looking to recoup what I've put into it," said Graves.

Hurley-Block said this is a buyers market but she says those buyers are more cautious.

"People are either unsure of what the market is going to do or they just don't want to take that step yet," said Hurley-Block.

Realtors also say instead of buying, more people are asking about rental property.

Due to the recent ice storm they also expect the February numbers to be down.

The numbers are provided by the Arkansas Realtors Association.  Other counties that also saw significant drops in home sales include Craighead County which was down by 29.3%, Mississippi County down by 68.75% and Crittenden County that was down by 26.47%.

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