Forrest City, AR 72335 housing market

What this means

• Valuation. Prices are 13% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are down 5.5% over the past year (U.S.: +1.2%), 9% below their 2022-23 peak.
• Supply. Listings are 26% below the 2017-19 norm and rising (+36% vs. a year ago): still a tight market.
• Negotiating. Buyer leverage is high (97/100; U.S.: 54): homes sell for about 11.7% below their final list price; 25% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 17% of the median household income (U.S.: 35%); it takes about $23k a year to keep the payment at 30% of gross pay. That includes about $1,583 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $159 a year in natural-disaster damage per $100k of building value (U.S.: $155).
• Outlook. No clear direction: likely −10% to +6% over the next 12 months (44% chance of a rise).

Next 12 months

No clear direction

A fall is somewhat more likely than a rise, but not by enough to call. Likely change: −10.0% to +6.3% (80% range; middle estimate −0.7%), chance of a rise 44%, of a 5%+ drop 24%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

Other ZIP codes in St. Francis County, AR