The NWA housing market is hot, hot, hot! In 2020, mortgage financing was up 83% (13,159) in the area, brought on by record-low interest rates, no doubt.
A new report
from Attom Data Solutions shows lenders issued over 13,000 mortgage refinances in the Fayetteville-Rogers-Springdale MSA (metropolitan statistical area) last year. The final quarter alone witnessed over 4,000 refinances. That was a 79% increase from the same quarter in 2019.
According to data pulled from Matrix (used by the Northwest Arkansas Board of Realtors), home sales in NWA increased nearly 13% in 2020 from the year before. NWA also saw a steep increase in new home mortgages — up nearly 10% (more than 8,600).
This comes as part of a larger movement across the state and country. Home refinancing boomed in Little Rock, North Little Rock, and Conway jumping to 77% (13,840) last year. The Fort Smith metro surged as well, increasing 52% (3,336). Seattle saw the largest gains, with home refinances climbing 71% in 2020. -Talk Business & Politics
You can read the full report HERE