Home Sales UP Statewide
According to the Arkansas Business Journal’s statistics. 21% higher over last year for the month of March. It will be interesting to see how the post-tax credit sales are. I’ve seen quite a bit of criticism of the credit around the web, essentially arguing that like the cash for clunkers program, it simply changed the timing of already planned purchases at a significant cost to the taxpayer.
I disagree to an extent. There is some truth to that, but I’ve also recently handled some transactions, particularly contracts for deed & escrow contracts, which I do not believe would have happened if it hadn’t been for the credit. I don’t think the buyers would have quit renting. These have primarily been purchases of the house they’re renting. Also, I think the credit may have extended the selling season, which is better for the cash flow of realtors, title company, and those in the building trades who are doing remodels.