Home Auctions Up

By: Courtney Collins, KARK 4 News

Updated: April 24, 2008

One business that's benefiting from the housing slump is the home auction business.

Auctioneer Joe Wilson who's based out of Hot Springs says 2007 was a record breaking year for business and it looks like 2008 should be just as strong.

He says with the market the way it is, more people are considering an auction as a different approach to home selling.

He says auctions are no longer considered a last resort, and they can be set up very quickly.

Wilson says they also attract cash buyers and have very few contingencies.

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