Price For New Homes Takes A Dive
By:
Updated: April 17, 2007
Home prices are at the lowest they`ve been since Nixon was in office, according to the Commerce Department and that`s true in Northwest Arkansas as well. Local real-estate agents, this is due to an overabundance of housing in the area. A population boom was forecast in the area and builders started building at an overwhelming rate. Now that building has slowed down. Agents are calling it a buyers market right now with interests rates nearing six percent and home prices dropping. Buyers are taking their time to buy homes because there really isn`t any rush. There`s plenty of homes to go around....still this will change as more residents move to the area and when that happens prices will go up and builders will start building again.
