That's according to the latest home sales report from the Arkansas Realtors Association (ARA).
The ARA says average prices of homes in the 42 county area it monitors were up slightly from $144,842 in December 2010 to $147,795 in December 2011.
The number of units sold in December dropped 6-percent from 1,903 in December 2010 to 1,785 for the same month in 2011.
For the year, the number of homes sold as compared to 2010 was down less than 1-percent while average prices decreased slightly more than 1-percent.
"We find these to be very encouraging numbers and early signs of a possible recovery in the housing market," said Amy Glover Bryant, Director of Communications for the Association. "What is important to sustain this recovery are continuing low mortgage interest rates, job creation and a renaissance in American's belief that the American Dream of home ownership is still possible for them. More buyers coming into the market mean additional benefits for the overall economy in Arkansas. A typical home sale pumps a total of $60,000 into the economy over time because when a house sells, jobs are created. The importance of the housing market in relation to our state's well-being couldn't be more evident than it is right now."
"We would describe 2011 as a rebuilding year, as well as one full of tremendous achievements," said Dana Powell, 2012 President of the Arkansas RealtorsAssociation. "The market is showing signs of improvement, and more than ever, people aspire to become homeowners. Throughout the past year Realtors have worked hard to make sure everyone who is willing and able to assume the responsibilities of owning a home should have the opportunity to pursue that dream."
Click here to read the full report.