Metropolitan Statistical Area (MSA):
Jonesboro, AR is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Jonesboro, AR metropolitan statistical area (MSA) has been one of the hardest hit areas in terms of the housing market crash. Home prices have plummeted and foreclosures have skyrocketed. However, there are signs that the worst may be over for this beleaguered area.
One positive sign is that home sales have increased for three straight months, according to the latest data from the National Association of Realtors. This is a significant turnaround from last year when home sales were declining on a monthly basis. Another encouraging sign is that median home prices in Jonesboro have stabilized and even begun to creep up slightly.
Of course, it will take time for the housing market in Jonesboro to fully recover. But there are reasons to believe that a rebound is possible. The job market in Jonesboro has been improving slowly but steadily, which should help boost demand for housing. Additionally, many of the foreclosed homes in Jonesboro are being scooped up by investors, which should help stabilize prices and prevent further declines.
So while it may not be time to start flipping houses in Jonesboro just yet, there are definitely some positive trends taking place in the local housing market.