Area Home Sales Drop, Prices Rise
Posted: February 14, 2012 at 5:29 p.m.
The number of area homes sold in January dropped slightly year-over-year, but those that did sell jumped in price, according to data provided by Paul Bynum, economist with MountData.
Through January, 319 homes sold worth $51.31 million compared to 334 homes in 2011 valued at $48.97 million.
The median home price this January was $133,000 in Benton and Washington counties, up from $110,000 a year ago.
The region had 3,188 existing homes on the market with a median value of $159,778 as of Feb. 12, according to Bynum. There were 340 new homes on the market with a median price of $218,500.
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Comments
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GREED is on the rise again in real estate. This was a major factor in the recent recession and here we go again.
Posted by: Oldearkie
February 15, 2012 at 12:02 a.m. ( permalink | suggest removal )
Oldarkie--
This article is about actual sales of individual residential properties. In a balanced or buyers' market, greed doesn't really play much of a role in such sales. A house will sell only if the buyer and seller agree on the price, and usually an appraiser has to agree with the price as well. In a balanced or buyers' market, a greedy seller will generally not sell his property as fast as a reasonable seller. As a buyers' market grows stronger, greed plays a smaller and smaller role in home sales until it plays no role at all because overpriced homes simply do not sell.
Posted by: AlphaCat
February 15, 2012 at 1:18 a.m. ( permalink | suggest removal )
Oldarkie,
Get a job and stop responding to every article. If you do have a job I would fire you. You have way too much time on your hands. Go volunteer your time you are wasting here and stop responding.
Posted by: JWF74
February 15, 2012 at 5:34 a.m. ( permalink | suggest removal )
alpha_cat,
I agree completely with your entire response. Personal choices and the free market system are at work.
V/r,
Tank
Posted by: Tankersley101
February 15, 2012 at 6:01 a.m. ( permalink | suggest removal )
jwf74, I worked for 60 years and am retired, a veteran and I also volunteer some of my time. What time I have left is by the Grace of God. My responses are my "personal choice" and based on many years of experience and a formal education. Your criticism will be given all the consideration it deserves. FUVM
Posted by: Oldearkie
February 15, 2012 at 4:29 p.m. ( permalink | suggest removal )
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