|
|
|
Around the nation, the housing market seems to be going every which way. It’s up, it’s down, it’s sideways and it’s inside out. Though the crisis seems to be focused mostly on the east and west coasts, interior states haven’t been immune from the sting.
In Pulaski County, the housing market has remained relatively stable, though recent numbers show a slight decline in sales this year when compared to the previous year.
Shellene Beacham, Pulaski County Board of Realtors president, said she has seen several communities around the state begin to confront the issue head-on.
“The state has been heavily affected by the economy,” she said, adding that because this area has Fort Leonard Wood, it has been a little more calm when contrasted with other areas.
“Our agents, by volume, have done a lot better than some agents around the state,” she shared. “December has been busier. There’s a lot more agents out showing.”
In 2007, Pulaski County saw the sale of 659 residential homes with an average price of $146,365. The homes were usually on the market for about 139 days before being sold.
As of Dec. 10, 2008, 508 homes in the county have been sold, with the average price remaining at 2007 levels. Days spent on the market, however, increased slightly to 145.
The drop in sales can be contributed, in part, to the difficulty of qualifying for home loans and general fear of the market.
“It is a lot harder for people to get qualified for a loan,” Beacham explained. “Nowadays, if people have blemishes on their credit or high debt, the odds of them getting approved are not good.
“And people who are getting qualified for a home, who have that ability, with the volatility of the economy going up and down, up and down, it’s scary.”
Despite the issues, people are still out purchasing, and doing so at price levels comparable to previous years.
“You still have people who are buying the $200,000 houses,” she said.
Adding to the equation are homes in lower price ranges becoming increasingly available, resulting in buyers having a greater variety of homes and costs to choose from.
“We have smart buyers. For the most part, they don’t want to over-leverage themselves,” Beacham said.
In the meantime, Beacham noted she expects the market to improve, although the boom seen in earlier years may not repeat itself.
“I think we’ll see steady growth,” she said. “We are very blessed to be where we’re at.”
Around the nation, the housing market seems to be going every which way. It’s up, it’s down, it’s sideways and it’s inside out. Though the crisis seems to be focused mostly on the east and west coasts, interior states haven’t been immune from the sting.
In Pulaski County, the housing market has remained relatively stable, though recent numbers show a slight decline in sales this year when compared to the previous year.
Shellene Beacham, Pulaski County Board of Realtors president, said she has seen several communities around the state begin to confront the issue head-on.
“The state has been heavily affected by the economy,” she said, adding that because this area has Fort Leonard Wood, it has been a little more calm when contrasted with other areas.
“Our agents, by volume, have done a lot better than some agents around the state,” she shared. “December has been busier. There’s a lot more agents out showing.”
In 2007, Pulaski County saw the sale of 659 residential homes with an average price of $146,365. The homes were usually on the market for about 139 days before being sold.
As of Dec. 10, 2008, 508 homes in the county have been sold, with the average price remaining at 2007 levels. Days spent on the market, however, increased slightly to 145.
The drop in sales can be contributed, in part, to the difficulty of qualifying for home loans and general fear of the market.
“It is a lot harder for people to get qualified for a loan,” Beacham explained. “Nowadays, if people have blemishes on their credit or high debt, the odds of them getting approved are not good.
“And people who are getting qualified for a home, who have that ability, with the volatility of the economy going up and down, up and down, it’s scary.”
Despite the issues, people are still out purchasing, and doing so at price levels comparable to previous years.
“You still have people who are buying the $200,000 houses,” she said.
Adding to the equation are homes in lower price ranges becoming increasingly available, resulting in buyers having a greater variety of homes and costs to choose from.
“We have smart buyers. For the most part, they don’t want to over-leverage themselves,” Beacham said.
In the meantime, Beacham noted she expects the market to improve, although the boom seen in earlier years may not repeat itself.
“I think we’ll see steady growth,” she said. “We are very blessed to be where we’re at.”
