The Future of the Housing Market

JONESBORO - A cooling housing market in Jonesboro is leaving some high priced homes empty but demand for mid-range priced homes is strong.

"Buyers are looking at homes anywhere from $100,000 to $200,000 in Jonesboro," said realtor Felicia Johnson.

In fact, there are currently over 300 listings for homes in that price range.  The houses in this price range are selling so well that more builders are actually building them.

"Currently listed right now about 75% more houses are in this range than in any other housing range," said Johnson.

Mortgage broker Jerry Myers said he's worked with quite a few families looking to buy one of these homes.

"The blue collar workers that work in plants and factories, there's more of those folks looking for a home than there is anybody else," said Myers.

Johnson said there are many reasons people will choose a home like these.

"They're looking for more amenities than maybe a starter home has to offer," said Johnson.

Mortgage brokers and realtors are seeing a shift in the sell of homes above the $200,000 mark.

"We're seeing a slow down in that just because the income is so great to be able to afford those homes," said Johnson.

"There's some builders sitting out there with some spec homes that are in a bind because that market has definitely dropped off from what it was," said Myers.