Sold Homes in Cabot Arkansas; September 2008
With everything that has been going with the economy in the past weeks, the real estate market has been slow. Not to say that it was not already slow, but September seen the biggest decrease in Cabot homes sales this year. Right now people are thinking real hard about their money and what to do with it. Some people do not feel that it is the right time to buy a home.
I feel that if you have to question if you can afford a new home then you may not need to buy one. That is a huge contributing factor to what this nation is going through right now. People buying homes they can not afford. If the trend continues this cycle will take forever to end.
Not that I am off of that soapbox, I will give the statistics for the Cabot real estate market in September. There were 34 homes sold in the Cabot Arkansas area this September. That is dramatically less than last years home sales in September. Last year there were 83 homes sold in the Cabot area during the same month. In 2006 there were 85 homes sold in the Cabot area.
That is a 61% decrease in homes sales during the month of September year over year. Since I have been writing these posts the largest decrease was 31%.
Since September marks the end of the third quarter my next post will focus on the third quarter of this year. Hopefully the numbers look a little better than what they did this month.
Good day