Central Arkansas Real Estate Market Slows


There is still a shortage of homes for sale, but the housing market is improving. The real estate agent described it as competitive for first-time homebuyers.

LITTLE ROCK, Arkansas — Over the course of the pandemic, some realtors sold homes the same day they showed them.

Recently, they said it can take weeks to sell a home, but explained that the market is heading in a better direction.

“We’re not in the same place we were a year ago, but it hasn’t changed dramatically,” said Realtor Stacey Hamilton.

Hamilton also said buyers these days are spending more time deciding on a home before making an offer.

“Six months ago, they had to react so quickly that there was really a lot of buyer reflection. Sometimes it ends because it didn’t,” added Hamilton.

Fewer people are going to open houses this year compared to last year.

“For buyers, it’s more bearable. They can get through without crowds around them, and they can take the home seriously, embrace it, and see it better,” she said.

Hamilton said rising interest rates are slowing the market, but he doesn’t believe we’re headed for a recession.

“People will continue to buy and sell real estate. she said.

Donnie Copeland said he wanted to sell his house and it was a relief to see the market slowing down.

“I can sell, but I still have more time to make the right decisions than I did six months ago. , the market is very hot,” Copeland said.

Real estate broker Jon Underhill said there was still a shortage of homes for sale despite the market continually improving. I explained that there is

“When a property hits the market, you need to be able to see it as soon as possible because the market is still very active,” says Underhill.

He said the shortage of housing could cause buyers to pay more than the list price.

“They would have to get out of their pockets because of the difference between what the house was valued at and what they bought it for.

Overall, he believes the market is changing for the better.

“This is neither a buyer’s market nor a seller’s market, it’s a stable good market,” he said.

Realtor Susan Meador tracks available homes across Little Rock. She explained that there are about 400 homes on the market these days, and nearly half of them are under contract.



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