September home sales for this year jumped over the same time in 2008. It is one of the biggest signs that the housing market could be turning here in the Natural State.
Word came Monday from the
Arkansas Realtors Association that 2,300 homes sold in the state in September. That's a 10 percent jump from September last year.
Realtor Debbie Teague with Janet Jones Company says the reason is
government tax incentives.
First time homebuyers get an $8,000 tax credit. It's $6,500 for anyone who's owned a home 5 of the last 8 years. "I think it's a good time for someone who's been in their home over 5 years to buy a home. The prices again are at such a good value," Teague said.
The reduced rates mean bargains for folks looking to buy but Teague warns that won't last long. In fact, prices are already starting to inch back up. If you want to cash in on a tax credit, you must have a contract accepted for a home purchase by April 30th to get the money.
