After three straight weeks of increases, the number of homes for sale dropped a bit over the past week.

That’s no surprise — inventories do tend to drop a bit at the first of a new month. Some homeowners chose not to renew their listings when they expired at the end of January. Still, inventory levels are relatively low right now and we hope sellers benefit in the current climate as there are fewer homes for sale than just a few months ago and that means less competition for buyers.

To download a copy of the latest average/median list prices and inventories report from the Arkansas Realtors® Association, click here for the Excel file and here for the PDF. You can download a dandy chart by clicking here.

It’s quite obvious that — on the whole — average list prices continue to decline (that’s not the case in the Jonesboro and Fort Smith/Van Buren areas, of course). We hope that declining list prices benefit buyers. When you add low interest rates and tax credits to those average list prices, it’s pretty clear buyers have a lot to gain by purchasing homes right now.

Every week the Arkansas Realtors Association collects and distributes the average and median list prices and the number of homes in inventory (homes for sale) for single family, new and existing houses in four markets. Those markets are Benton and Washington counties in northwest Arkansas, the Fort Smith/Van Buren areas (Crawford and Sebastian counties) in west Arkansas, the Jonesboro area (Craighead County) in northeast Arkansas and the Little Rock-North Little Rock-Conway Metropolitan Statistical Area (Faulkner, Grant, Lonoke, Perry, Pulaski and Saline counties) in central Arkansas. While those four markets don’t tell the whole story, looking at them together gives us a pretty good idea about developing trends in markets throughout the state.

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