Pulaski — 3,157, up compared to 3,013 in Jan.-Sept. 2011
Benton — 2,859, up compared to 2,795 in Jan.-Sept. 2011
Washington — 1,744, down compared to 1,802 in Jan.-Sept. 2011
Saline — 1,045, up compared to 1,037 in Jan.-Sept. 2011
Craighead — 1,001, down compared to 1,091 in Jan.-Sept. 2011
Home sales were expected to climb more but tighter credit might have caused the delay in more closings. Mortgage Bankers of Association of Arkansas officials said mortgages were generally closing within 30 days after buyers and sellers entered into real estate sales contracts, but that started changing a couple of months ago. The problem, mortgage bankers say, has to do with increased government and industry regulations. Those regulations stem from questionable lending practices that became obvious around 2008 and resulted in foreclosures and loan delinquencies that are still weighing on real estate markets
Meanwhile, one group of the real estate market that is taking advantage of current market conditions are people refinancing existing mortgages. As of Oct. 12, the mortgage rate on a 30-year mortgage was 3.57%. For those refinancing for 15 years, the rate was 2.87%.
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