Decline in the National Housing Market
Home prices fell 3.2% in the second quarter. That is the steepest decline since the Standard & Poor's began tracking national housing. After 5 years of steady rising housing prices the decline was to be inevitable. Many areas of the country have seen extremely rapid inclines in home prices. With this rapid increase comes a rapid decrease.
Luckily homes in Cabot have not rapidly seen an increase in price. Yea, they did see a higher than normal increase, but not as major as other places in the nation. This is not to say that Cabot AR is immune to real estate slump, but hopefully the decline will not be a sharp as other parts in the nation.
The Federal Reserve is taking measures to combat the decline in housing. They have lowered the federal fund rate and are expected to lower it further in the next meeting.
Hopefully cutting the rate will help pick the housing market up off the floor. Cabot AR is still strong and will hopefully stay strong throughout the national slowdown.
For more info about Cabot AR homes click on the link.
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