72949, Ozark, AR

Home Equity and Home Prices in Ozark, AR

The home equity and home prices in the 72949 zip code of Ozark, AR are very high. The median home value is $236,000, which is more than triple the national median home value of $106,500. Additionally, the percentage of homes with a mortgage or loan against their value is also high at 82%. This indicates that many homeowners in this zip code are highly leveraged and likely have a tight financial situation. This may be a contributing factor to why house prices have been so high in this area.

While there are many reasons why house prices in Ozark, AR are so high, one potential reason is that there is little available housing stock in this area. There are only 2,100 homes for sale within the 72949 zip code according to Zillow data (as of September 2018), which is less than half of the number of homes that were available just five years ago. In addition to limited availability of housing stock, another potential reason for the high house prices in Ozark may be due to strong demand from buyers. According to Zillow data (as of September 2018), there has been an increase of 9% year-over-year in the number of active listings within the 72949 zip code. This suggests that there is strong demand for housing units within this area and that buyers may be able to afford higher priced homes due to increased incomes or job security.

Despite these factors contributing to high house values and a lack of available housing units, it's important not to forget about economic factors when assessing whether or not it's wise for someone to buy a home in Ozark, AR. For example, unemployment rates tend to be lower near areas with higher concentrations of jobs (which may explain why unemployment rates are lower around Ozark). Additionally, while interest rates have increased recently across most markets around the country (including Ozark), they remain relatively low compared to historical norms (meaning it might still make sense for someone looking for an affordable property investment option). Taken together these various factors suggest that while buying a home in Ozark might not be ideal right now based on current market conditions and trends – it could still make sense for someone who wants/needs a property investment option and isn't concerned about being able to sell their home quickly should they need too.