Low Interest Rates Attract Interest Of First Time Buyers

Here in Pulaski County nearly 150 more homes have been sold so far this year compared to last. Which is a nearly 8% increase.

Across the state nearly 500 more homes have sold compared to this time last year a nearly 5% increase.

Experts like Robin J. Miller, principal broker at Caldwell Bank in Little Rock, gauge the market based on a number of factors, for example, the number of homes being sold.

"That's up," Miller said.

The combined value of houses sold also up. As well as the average price per home taken off the market.

" And that's up," said Miller. "So we're up in all three areas."

Miller attributes this upswing in the market to first time home buyers.

As rent continues to increase she said, young professionals are deciding to invest in their future with a mortgage.

"Their starting to get out and purchase homes," Miller said.

First time buyers like William Percoski.

Percoski gladly showed KARK around his first home purchased one month ago.

He said he decided to put roots down after having a bit of an epiphany.

"I could spend $800 to $1,000 on rent and never see that money again," Percoski said, "Or buy a house and put the money into real estate and get money in the future out of it if i wanted to."

He's now letting a friend stay at his home, while he goes through the home buying process also for the first time.

Percoski said if it's anything like his experience, it won't take long.

"Within three weeks we were closing," he said.

"It's a long term investment and a good place to put your money and help reach that American dream," Miller added.