Home Prices In Arkansas On The Up-Swing

Opening the door to possible buyers for six years as a realtor in Arkansas, Tammy Tompkins has experienced his experienced first hand the changes in the housing market.

"We've had some good times, and some pretty tough times," said Tompkins.

Negotiating the price of a home between the buyer and seller she said lately has become more of an even playing field.

"Things are really leveling out.," said Tompkins.

"House prices are on the up-swing particularly here in Arkansas which suggests we've past the low point of the cycle in home prices," said Dr. Michael Pakko.

After taking an extreme dip when the housing market collapsed in 2009 experts, who follow the market closely, are now optimisitic.

They said the increased home prices are an indication of a stabalizing market.

"We've been waiting for a long time now to see the real estate market pick-up," said Dr. Pakko.

The chief assessment administrator with the Pulaski County Assessor's Office said parts of central Arkansas have succfessfully been able to skirt the housing dip.

"We've seen studies from National media indicating Little Rock is one of the best markets right now," said Joe Thompson. "We're seeing an increase of about 10 to 11%over the last three years."

Which could mean we're moving from a buyer's to a seller's market.

"Home sales are an important indicator because they comprise such an important part of a households budget," Dr. Pakko said.

Meaning these upticks can translate into signs of a stronger economy.