Realtors: Arkansas Homes in March Up 7 Percent

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Realtors: Arkansas Homes in March Up 7 Percent

by Lance Turner on Thursday, May. 2, 2013 11:26 am

The housing rebound has been particularly noticeable in northwest Arkansas, a region of the state most acutely felt the effects of the housing crisis.

In its latest report released April 23, the Commerce Department said sales of new homes increased 1.5 percent. The gain brought the level higher than February's pace of 411,000, though below January's 445,000 — the fastest pace since July 2008.

The median price of a new home rose to $247,000 in March. That's 3 percent higher than a year ago.

New-home sales are still below the 700,000 pace considered healthy by most economists. But the pace has increased 18.5 percent from a year ago. And most economists see more gains ahead.

(The Associated Press contributed to this report.)