Cabot Arkansas July Sold Homes 2010
The expiration of the first time home buyer tax credit has had an impact on the Cabot area home sales for the month of July. First time home buyers were initially supposed to be under contract and have their home closed on by June 30th of this year. Then the time for closing on a home was extended to the end of Sept. That first expiration of June 30th has affected July Cabot home sales. Below are the numbers for Cabot Arkansas July home sale.
July 2010 sold Cabot area homes: 62
July 2009 sold Cabot area homes: 107
July 2008 sold Cabot area homes: 93
July 2007 sold Cabot area homes: 93
July 2006 sold Cabot area homes: 95
As you can see, there has been a dramatic slow down in sold homes this past month. From July of last year, sold homes are down 43%. Many economist predicted a couple of months after the tax expiration the real estate market would slow down. They predict the housing market to pick back up in the fall of this year. A reduction in the unemployment levels will help the real estate market over time.