You can forget what you learned about supply and demand. In Benton County, home prices continue to soar as sales decline. Average home prices in the county were up 6.05% for the first half of the year, at $199,065, the highest year-to-date average price in the state. The statewide average was $155,455.
At the same time, the Arkansas Realtors Association reports that year-to-date home sales in Benton County are down 13.15% over the first half of 2006, and it is continuing with June 2007 sales in the county down 21% from June 2006.
Evie Blad, the outstanding reporter for the Benton County Daily Record said, "Analysts have attributed the weakened residential sales figures to a slowing northwest
There was no mention of impact fees, the strawman scare tactic always trotted out and blamed by developers and real estate interests.
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